EquityPandit’s Outlook for Sun Pharma for the week (August 17, 2015 – August 21, 2015):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining more than 5%.

As we have mentioned last week that if the stock manages to close above the levels of 860 the stock can move to the levels of 900 and the stock hit a high of 913 during the week.

The stock is approaching towards the strong resistance zone of 910 to 920 where 100 Daily SMA and 200 Daily SMA are positioned.

Above the levels of 920 the stock can move to the levels of 950 from where the stock broke down on back of bad news.

Support for the stock is seen in the zone of 860 to 870 from where the stock has broken out and also short term moving averages are positioned.

Broad range for the stock in the coming week can be 840 – 860 on lower side to 920 – 940 on upper side.