EquityPandit’s Outlook for Sun Pharma for the week (January 18, 2016 – January 22, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 1.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 810 to 820 where 500 Daily SMA and 100 Weekly SMA are lying. If the stock closes above this levels then the stock can move to the levels of 840 to 850 where 100 Daily SMA is lying. During the week the stock manages to hit a high of 805 and retraced to close the week around the levels of 787.

Support for the stock lies in the zone of 750 to 760 where trend-line support for the stock is lying. If the stock closes below this levels then the stock can drift to the levels 700 to 710 where the stock has formed a medium term bottom.

Resistance for the stock lies in the zone of 810 to 820 where 500 Daily SMA and 100 Weekly SMA are lying. If the stock closes above this levels then the stock can move to the levels of 840 to 850 where 100 Daily SMA is lying.

During the week the stock consolidated in the tight range of 780 on downside to 800 on upside. A breakout on either side will move the stock further 3% to 4% in that direction.

Broad range for the stock in the coming week can be 760 – 770 on lower side to 840 – 850 on upper side.