EquityPandit’s Outlook for Sun Pharma for the week(May 27, 2019 – May 31,2019)
Sun Pharmaceutical Industries Ltd.
BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA
Stock closed the week on negative note losing -1.05%
Week High: 562.85
Week Low: 530.20a
Week Range: 32.65 Points
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 370– 375 levels, Minor resistance on the upside is capped around 430– 435 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 340– 345 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 445– 450
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 445-450 upside and 340– 345 on downside.