EquityPandit’s Outlook for Sun Pharma for the week (March 08, 2016 – March 11, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 1.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 880 to 900 from where the stock has sold off in the month of November – 2015. If the stock manages to close above this levels then the stock can move to the levels of 940 to 960. During the week the stock manages to hit a high of 880.80 and close the week around the levels of 857.

Support for the stock lies in the zone of 850 where 200 Daily SMA is lying. If the stock manages to close below this levels then the stock can drift to the levels of 820 where 100 Daily SMA and 100 Weekly SMA is lying.

Resistance for the stock lies in the zone of 880 to 900 from where the stock has sold off in the month of November – 2015. If the stock manages to close above this levels then the stock can move to the levels of 940 to 960.

Broad range for the stock in the coming week can be 840 – 850 on lower side to 890 – 900 on upper side.