EquityPandit’s Outlook for Sun Pharma for the week  (Jan 14, 2019 – Jan 18, 2019) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 2.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 435 to 440 from where the stock has broken down from double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 460 to 465 where Fibonacci levels are lying. During the week the stock manages to hit a high of 454 and close the week around the levels of 444.

Minor support for the stock lies in the zone of 430 to 435. Support for the stock lies in the zone of 395 to 400 where low for the month of December-2018 is lying. If the stock manages to close below these levels then the stock can drift to the levels of 360 to 365.

Resistance for the stock lies in the zone of 460 to 465 where Fibonacci levels and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 480 to 485 where the stock has formed a gap.

Broad range for the stock in the coming week can be 410 – 420 on lower side & 460 – 470 on upper side.