EquityPandit’s Outlook for Sun Pharma for the week  (Apr 16, 2018 – Apr 20, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the stock lies in the zone of 515 to 520 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 535 to 540 where medium & long term moving averages are lying. During the week the stock manages to hit a high of 523 and close the week around the levels of 513.

Support for the stock lies in the zone of 495 to 500 where the stock has taken multiple support in the month of November-2017 and December-2017. If the stock manages to close below these levels then the stock can drift to the levels of 470 to 475 where the stock has taken support in the month of September-2017.

Resistance for the stock lies in the zone of 515 to 520 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 535 to 540 where medium & long term moving averages are lying.

Broad range for the stock in the coming week can be 490 – 495 on lower side & 535 – 540 on upper side.