EquityPandit’s Outlook for Sun Pharma for the week  (April 10, 2017 – April 13, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 3.20%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 695 to 700. Resistance for the stock lies in the zone of 720 to 725 where trend-line joining lows of 704 & 710 and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 750 from where the stock sold off in the month of November-2016. During the week the stock manages to hit a high of 697 and close the week around the levels of 666.

Support for the stock lies in the zone of 665 to 670 where medium term moving averages and break out levels are lying.. If the stock manages to close below these levels then the stock can drift to the levels of 645 to 650 where Fibonacci level is lying.

Minor resistance for the stock lies in the zone of 670 to 675. Resistance for the stock lies in the zone of 682 to 685 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 700 to 710 where 200 Daily MA is lying.

Broad range for the stock in the coming week can be 640 – 645 on lower side & 685 – 690 on upper side.