EquityPandit’s Outlook for Sun Pharma for the week  (Nov 27, 2017 – Dec 01, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 6.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 520 to 525 where Fibonacci levels and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 540 to 545 from where the stock has broken down. During the week the stock manages to hit a high of 551 and close the week around the levels of 549.

Support for the stock lies in the zone of 535 to 540 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 Fibonacci levels and short & medium term moving averages are lying.

Resistance for the stock lies in the zone of 550 to 555 from where the stock has sold off. If the stock manages to close above these levels then the stock can move to the levels of 570 to 575 where 200 daily moving averages are lying.

Broad range for the stock in the coming week can be 520 – 525 on lower side & 570 – 575 on upper side.