EquityPandit’s Outlook for Sun Pharma for the week (March 06, 2017 – March 10, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 1.80%.

As we have mentioned last week that resistance for the stock lies in the zone of 670 to 675 from where the stock sold off on 15/12/2016. If the stock manages to close above these levels then the stock can move to the levels of 690 to 700 from where the stock sold off on 07/12/2016. During the week the stock manages to hit a high of 701 and close the week around the levels of 686.

Minor support for the stock lies in the zone of 672 to 675. Support for the stock lies in the zone of 650 to 655 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 620 to 625 where the stock has taken multiple supports.

Resistance for the stock lies in the zone of 695 to 700 from where the stock sold off on 07/12/2016. If the stock manages to close above these levels then the stock can move to the levels of 720 to 725 where trend-line joining lows of 704 & 710 and 200 Daily SMA is lying.

Broad range for the stock in the coming week can be 665 – 670 on lower side & 710 – 715 on upper side.