EquityPandit’s Outlook for Sun Pharma for the week  (Mar 05, 2018 – Mar 09, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 6.10%.

As we have mentioned last week, that minor support for the stock lies in the zone of 558 to 562. Support for the stock lies in the zone of 545 to 550 where break out levels and medium & 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 530 to 535 from where the stock broke out after consolidation. During the week the stock manages to hit a low of 533 and close the week around the levels of 535.

Support for the stock lies in the zone of 530 to 535 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 510 where the stock has taken multiple support in the month of November-2017 and December-2017.

Resistance for the stock lies in the zone of 545 to 550 where medium & 200 daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 570 to 580 from where the stock has broken down.

Broad range for the stock in the coming week can be 500 – 505 on lower side & 555 – 560 on upper side.