EquityPandit’s Outlook for Sun Pharma for the week  (Oct 01, 2018 – Oct 05, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 1.80%.

As we have mentioned last week, that minor resistance for the stock lies around 650 to 660. Resistance for the stock lies in the zone of 680 to 690 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730. During the week the stock manages to hit a high of 650 and close the week around the levels of 623.

Support for the stock lies in the zone of 600 to 610 from where the stock broke out of the highs formed in the month of January-2018 and February-2018 and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 570 to 580 where break out levels and medium term moving averages are lying.

Minor resistance for the stock lies around 640 to 650. Resistance for the stock lies in the zone of 670 to 680 where high for the month of September-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 700 to 710.

Broad range for the stock in the coming week can be 600 – 610 on lower side & 650 – 660 on upper side.