EquityPandit’s Outlook for Sun Pharma for the week (January 16, 2017 – January 20, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 1.90%.

As we have mentioned last week that resistance for the stock lies in the zone of 655 to 660 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 670 to 675 from where the stock sold off on 15/12/2016. During the week the stock manages to hit a high of 657 and close the week around the levels of 653.

Minor support for the stock lies in the zone of 640 to 645. Support for the stock lies in the zone of 625 to 630 from where the stock broke out on intraday basis. If the stock manages to close below these levels then the stock can drift to the levels of 600 to 610.

Resistance for the stock lies in the zone of 655 to 660 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 670 to 675 from where the stock sold off on 15/12/2016.

Broad range for the stock in the coming week can be 630 – 635 on lower side to 670 – 675 on upper side.