EquityPandit’s Outlook for Sun Pharma for the week  (July 31, 2017 – Aug 04, 2017) :

SUN PHARMA:

 

 

SUN PHARMA closed the week on negative note losing around 4.40%.

As we have mentioned last week that minor support for the stock lies in the zone of 560 to 565. Support for the stock lies in the zone of 550 to 555 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 520 to 525 where break out levels for the stock is lying. During the week the stock manages to hit a low of 549 and close the week around the levels of 551.

Support for the stock lies in the zone of 550 to 555 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 520 to 525 where break out levels for the stock and Fibonacci levels is lying.

Resistance for the stock lies in the zone of 560 to 565 from where the stock has broken down from the H & S Pattern. If the stock manages to close above these levels then the stock can move to the levels of 585 to 590 where the stock has formed a short term top.

Broad range for the stock in the coming week can be 520 – 525 on lower side & 575 – 580 on upper side.