EquityPandit’s Outlook for Sun Pharma for the week (April 15, 2019 – April 19, 2019):
Sun Pharmaceutical Industries Ltd.
BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA
Stock closed the week on positive note gaining +0.35%
Week High: 471.45
Week Low: 462.10
Week Range: 9.35 Points
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for SUNPHARMA at 458-460 levels, whereas minor resistance on the upside is capped around 480-485 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 435-430, 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 495-500
Currently trend for the stock is bearish asstock trading below 200 days exponential moving average.
EquityPandit predicts SUNPHARMA range for the week is seen from 495-500 on upside & 435-430 on downside.