EquityPandit’s Outlook for Sun Pharma for the week (October 03, 2016 – October 07, 2016) :

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 4.80%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 800. 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 February – 2016. During the week the stock manages to hit a high of 784 and close the week around the levels of 743.

Minor support for the stock lies in the zone of 730. Support for the stock lies in the zone of 700 to 710 from where the stock has bounced in the month of June – 2016 and November – 2015. If the stock manages to close below these levels then the stock can witness a major break down and can drift to the levels of 650.

Minor resistance for the stock lies in the zone of 745 to 750. Resistance for the stock lies in the zone of 760 to 765. If the stock manages to close above these levels then the stock can move to the levels of 780 to 785 where short term and medium term moving averages are lying.

Broad range for the stock in the coming week can be 720 – 725 on lower side to 760 – 765 on upper side.