EquityPandit’s Outlook for Sun Pharma for the week (January 04, 2016 – January 08, 2016):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 3.0%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 826 and close the week around the levels of 815.

Support for the stock lies in the zone of 790 to 800 where 500 Daily SMA, 100 Weekly SMA and trend-line support for the stock is lying. If the stock manages to close below this levels then the stock can drift to the levels of 750 to 760.

Resistance for the stock lies in the zone of 840 to 850 where 100 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 880 where 200 Daily SMA is lying.

Broad range for the stock in the coming week can be 790 – 800 on lower side to 840 – 850 on upper side.