EquityPandit’s Outlook for Sun Pharma for the week  (Mar 12, 2018 – Mar 16, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 5.30%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 505 and close the week around the levels of 507.

Support for the stock lies in the zone of 500 to 510 where the stock has taken multiple support in the month of November-2017 and December-2017. If the stock manages to close below these levels then the stock can drift to the levels of 470 to 475 where the stock has taken support in the month of September-2017.

Resistance for the stock lies in the zone of 520 to 530 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 550 to 560 where short & medium term moving averages are lying.

Broad range for the stock in the coming week can be 470 – 475 on lower side & 535 – 540 on upper side.