EquityPandit’s Outlook for Sun Pharma for the week  (Dec 17, 2018 – Dec 21, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 2.40%.

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 434 and close the week around the levels of 421.

The stock has seen a major break down and no support is visible. Support for the stock lies in the zone of 395 to 400. 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 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.

Broad range for the stock in the coming week can be 380 – 390 on lower side & 440 – 450 on upper side.