EquityPandit’s Outlook for Sun Pharma for the week  (Sep 18, 2017 – Sep 22, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 11.20%.

As we have mentioned last week, that the stock has broken down from all major support zones on long term charts. Support for the stock lies in the zone of 455 to 460. Support for the stock lies in the zone of 430 to 435. If the stock manages to close below these levels then the stock can drift to the levels of 370 to375. During the week the stock manages to hit a low of 466 and close the week around the levels of 524.

Minor support for the stock lies in the zone of 515 to 519. 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 480 to485.

Resistance for the stock lies in the zone of 535 to 540 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 580 to 585.

Broad range for the stock in the coming week can be 500 – 505 on lower side & 545 – 550 on upper side.