EquityPandit’s Outlook for Sun Pharma for the week  (Oct 08, 2018 – Oct 12, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 4.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 641 and close the week around the levels of 598.

Support for the stock lies in the zone of 590 to 600 from where the stock broke out of the highs formed in the month of June-2018 and August-2018. 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 615 to 620. Resistance for the stock lies in the zone of 640 to 650 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 670 to 680 where high for the month of September-2018 is lying.

Broad range for the stock in the coming week can be 570 – 580 on lower side & 630 – 640 on upper side.