EquityPandit’s Outlook for Sun Pharma for the week (December 21, 2015 – December 24, 2015):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 4.30%.

As we have mentioned last week that the resistance for the stock lies in the zone of 790 to 800 where 500 Daily SMA, 100 Weekly SMA and trend-line resistance for the stock is lying. If the stock manages to close above this levels then the stock can move to the levels of 850 where 100 Daily SMA is positioned. During the week the stock manages to hit a high of 809 and retraced to close the week around the levels of 790.

Support for the stock lies in the zone of 750 to 760. If the stock closes below this levels then the stock can drift to the levels of 710 to 720 where the stock has formed a medium term support.

The stock is trading around the strong resistance zone of 790 to 800 where 500 Daily SMA, 100 Weekly SMA and trend-line resistance for the stock is lying. If the stock manages to close above this levels then the stock can move to the levels of 850 where 100 Daily SMA is positioned.

Broad range for the stock in the coming week can be 760 – 770 on lower side to 810 – 820 on upper side.