EquityPandit’s Outlook for Sun Pharma for the week  (June 05, 2017 – June 09, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 9.30%.

As we have mentioned last week that the stock is in a freefall and no support zone is holding. Minor support for the stock lies in the zone of 545 to 550. Support for the stock lies in the zone of 520 to 525 where long term Fibonacci levels are lying. During the week the stock manages to hit a low of 493 and close the week around the levels of 515.

The stock is in a freefall and no support zone is holding. Support for the stock lies in the zone of 492 to 495. If the stock manages to close below these levels then the stock can drift to the levels of 470 to 475.

Resistance for the stock lies in the zone of 520 to 525 where long term Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 550 to 555 from where the stock opened gap down.

Broad range for the stock in the coming week can be 490 – 495 on lower side & 530 – 535 on upper side.