EquityPandit’s Outlook for Sun Pharma for the week  (Nov 20, 2017 – Nov 24, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 2.00%.

As we have mentioned last week, that support for the stock lies in the zone of 520 to 525 where Fibonacci levels and short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 505 where break out levels are lying. During the week the stock manages to hit a low of 498 and close the week around the levels of 517.

Support for the stock lies in the zone of 500 to 505 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 460 to 465 where the stock has formed a bottom in the month of September-2017.

Resistance for the stock lies in the zone of 520 to 525 where Fibonacci levels and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 540 to 545 from where the stock has broken down.

Broad range for the stock in the coming week can be 500 – 505 on lower side & 550 – 555 on upper side.