EquityPandit’s Outlook for Sun Pharma for the week  (Jan 28, 2019 – Feb 1, 2019) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 8.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 438 and close the week around the levels of 422.

Minor support for the stock lies in the zone of 405 to 410. Support for the stock lies around 390 to 400. 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 435 to 440 where trend-line joining earlier low is lying. If the stock manages to close above these levels then the stock can move to the levels of 460 to 465 where Fibonacci levels are lying.

Broad range for the stock in the coming week can be 390 – 400 on lower side & 450 – 460 on upper side.