EquityPandit’s Outlook for Sun Pharma for the week  (Dec 26, 2017 – Dec 29, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 2.50%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 530 to 535. Resistance for the stock lies in the zone of 550 to 555 from where the stock has sold off. If the stock manages to close above these levels then the stock can move to the levels of 570 to 575 where 200 daily moving averages are lying. During the week the stock manages to hit a high of 539 and close the week around the levels of 531.

Support for the stock lies in the zone of 515 to 520 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 495 to 500 where the stock has taken support in the month of November-2017.

Minor resistance for the stock lies in the zone of 535 to 540. Resistance for the stock lies in the zone of 550 to 555 from where the stock has sold off. If the stock manages to close above these levels then the stock can move to the levels of 565 to 570 where 200 daily moving averages are lying.

Broad range for the stock in the coming week can be 500 – 505 on lower side & 560 – 565 on upper side.