EquityPandit’s Outlook for Sun Pharma for the week  ( Jan 01, 2018 – Jan 05, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 7.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 586 and close the week around the levels of 571.

Support for the stock lies in the zone of 555 to 560 where break out levels and 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 535 to 540 where short term moving averages are lying.

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 540 – 545 on lower side & 600 – 605 on upper side.