EquityPandit’s Outlook for Sun Pharma for the week  (Sep 24, 2018 – Sep 28, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 4.60%.

As we have mentioned last week, that minor support for the stock lies around 640 to 650. 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. 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 short term moving averages are lying. During the week the stock manages to hit a low of 614 and close the week around the levels of 635.

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 short term moving averages 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 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.

Broad range for the stock in the coming week can be 600 – 610 on lower side & 660 – 670 on upper side.