EquityPandit’s Outlook for Sun Pharma for the week (September 06, 2016 – September 09, 2016) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 3.60%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 777 to 780. Resistance for the stock lies in the zone of 790 to 800 where medium term and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 850 to 855 where medium term weekly moving averages are lying. During the week the stock manages to hit a high of 784 and close the week around the levels of 782.

Minor support for the stock lies in the zone of 760 to 765. Support for the stock lies in the 725 to 730 from where the stock has bounced in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 705 to 710 where the stock has taken support couple of times in last 1 year.

Resistance for the stock lies in the zone of 790 to 800 where medium term and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 850 to 855 where medium term weekly moving averages are lying.

Broad range for the stock in the coming week can be 755 – 760 on lower side to 800 – 810 on upper side.