EquityPandit’s Outlook for Sun Pharma for the week  (Feb 05, 2018 – Feb 09, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 5.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 590 to 600 where the stock has formed a top in the month of July-2017. If the stock manages to close above these levels then the stock can move to the levels of 615 to 620 from where the stock has broken down in the month of May-2017. During the week the stock manages to hit a high of 595 and close the week around the levels of 551.

Support for the stock lies in the zone of 545 to 550 where break out levels and short & 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 530 to 535 from where the stock broke out after consolidation.

Minor resistance for the stock lies in the zone of 560 to 565. Resistance for the stock lies in the zone of 590 to 600 where the stock has formed a top in the month of July-2017. If the stock manages to close above these levels then the stock can move to the levels of 615 to 620 from where the stock has broken down in the month of May-2017.

Broad range for the stock in the coming week can be 530 – 535 on lower side & 570 – 575 on upper side.