EquityPandit’s Outlook for Sun Pharma for week (August 03, 2015 – August 07, 2015):  

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 2%.

During the week the stock consolidated in the range of 810 on downside to 840 on upside.

The stock has formed a Bullish Harami pattern on daily charts in downtrend indicating the trend reversal.

If the stock manages to close above the levels of 825 the stock can move to the levels of 840 and if stock manages to close above the levels of 840 the stock can move to the levels of 860.

If the stock breaks below the zone of 800 to 810 the stock can move to the levels of 750 where 500 Daily SMA and 100 Weekly SMA are lying.

The stock has to sustain above the levels of 860 to resume the uptrend.

Support for the stock is seen in the zone of 800 below which the stock can drift to the levels of 750.

Broad range for the stock in the coming week can be 800 – 810 on lower side to 860 – 880 on upper side.