EquityPandit’s Outlook for Sun Pharma for the week  (Aug 14, 2017 – Aug 18, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 11.10%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 520 to 522. Resistance for the stock lies in the zone of 540 to 545 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 560 to 565 from where the stock has broken down from the H & S Pattern. During the week the stock manages to hit a high of 513 and close the week around the levels of 450.

The stock has broken down from all major support zones on long term charts. The stock is in a freefall. Support for the stock lies in the zone of 430 to 435. If the stock manages to close below these levels then the stock can drift to the levels of 370 to375.

Resistance for the stock lies in the zone of 460 to 465 from where the stock broke down from the trend-line support. If the stock manages to close above these levels then the stock can move to the levels of 490 to 495 from where the stock broke down from May-2017 lows.

Broad range for the stock in the coming week can be 420 – 425 on lower side & 480 – 485 on upper side.