EquityPandit’s Outlook for Sun Pharma for the week (Mar 18, 2019 – Mar 22, 2019) :
Sun Pharmaceutical Industries Ltd.
BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA
Stock closed the week on positive note gaining +2.09%
Week High: 470.10
Week Low: 455.05
Week Range: 15.05
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for SUNPHARMA at 395 – 390 levels, whereas minor resistance on the upside is capped around 475- 480 levels.
If stock breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 360- 350, if stock breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 520-530
Currently trend for the stock is bearish as stock trading below 200 days exponential moving average. EquityPandit predicts SUNPHARMA range for the week is seen from 520- 530 on upside & 360- 350 on downside.