EquityPandit’s Outlook for Sun Pharma for the week  (Jan 22, 2018 – Jan 25, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 2.00%.

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 589 and close the week around the levels of 572.

Minor support for the stock lies in the zone of 562 to 567. Support for the stock lies in the zone of 550 to 555 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 535 to 540 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 577 to 582. 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 550 – 555 on lower side & 590 – 600 on upper side.