EquityPandit’s Outlook for Sun Pharma for the week (April 25, 2016 – April 29, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 1.50%.

As we have mentioned last week that resistance for the stock lies in the zone of 835 to 840 where short term moving averages & 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 860. During the week the stock manages to hit a high of 841 and close the week around the levels of 820.

Support for the stock lies in the zone of 800 to 810 where 100 Daily SMA and trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 770 where the stock has made a short term bottom.

Resistance for the stock lies in the zone of 835 to 840 where short term moving averages & 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 860.

Broad range for the stock in the coming week can be 800 – 810 on lower side to 850 – 860 on upper side.