EquityPandit’s Outlook for Sun Pharma for the week (August 16, 2016 – August 19, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 4.50%.

As we have mentioned last week that minor support for the stock lies in the zone of 820. Support for the stock lies in the zone of 795 to 805 where medium term and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 760 where the stock has made a short term bottom. During the week the stock manages to hit a low of 785 and close the week around the levels of 800.

Support for the stock lies in the zone of 795 to 805 where medium term and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 760 where the stock has made a short term bottom.

Minor resistance for the stock lies in the range of 825 to 830. Resistance for the stock lies in the zone of 850 to 855 where medium term weekly moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 900 from where the stock has sold off in the month of Feb – 2016.

Broad range for the stock in the coming week can be 775 – 780 on lower side to 830 – 835 on upper side.