EquityPandit’s Outlook for Sun Pharma for the week  (April 17, 2017 – April 21, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 4.00%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 700 and close the week around the levels of 693.

Minor support for the stock lies in the zone of 680 to 685. 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.

Resistance for the stock lies in the zone of 705 to 715 where 200 Daily MA is lying. If the stock manages to close above these levels then the stock can move to the levels of 730 to 735 where the stock has formed double top pattern.

Broad range for the stock in the coming week can be 670 – 675 on lower side & 725 – 730 on upper side.