EquityPandit’s Outlook for Sun Pharma for the week  (Jan 21, 2019 – Jan 25, 2019) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 12.10%.

As we have mentioned last week, that resistance for the stock lies in the zone of 460 to 465 where Fibonacci levels and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 480 to 485 where the stock has formed a gap. During the week the stock manages to hit a high of 457 and close the week around the levels of 391.

Support for the stock lies in the zone of 360 to 365. If the stock manages to close below these levels then the stock can drift to the levels of 345 to 350.

Resistance for the stock lies in the zone of 390 to 400 from where the stock broke down from December-2018 low. If the stock manages to close above these levels then the stock can move to the levels of 410 to 420 from where the stock has broken down.

Broad range for the stock in the coming week can be 350 – 360 on lower side & 420 – 430 on upper side.