EquityPandit’s Outlook for Sun Pharma for the week  (Aug 21, 2017 – Aug 25, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 4.50%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 433 and close the week around the levels of 470.

The stock has broken down from all major support zones on long term charts. Minor support for the stock lies in the zone of 450 to 455.. 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 488 to 492 from where the stock broke down from May-2017 lows. If the stock manages to close above these levels then the stock can move to the levels of 500 to 505.

Broad range for the stock in the coming week can be 430 – 435 on lower side & 500 – 505 on upper side.