EquityPandit’s Outlook for Sun Pharma for the week  (Mar 05, 2019 – Mar 08, 2019) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 4.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 452 and close the week around the levels of 447.

Minor support for the stock lies in the zone of 430 to 440. Support for the stock lies around 400 to 415 where the stock has formed a bottom in the month of February-2019. 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 455 to 465 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 480 to 490 where gap and long term moving averages are lying.

Broad range for the stock in the coming week can be 410 – 420 on lower side & 470 – 480 on upper side.