EquityPandit’s Outlook for Sun Pharma for the week (August 08, 2016 – August 12, 2016):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 1.40%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 855 and close the week around the levels of 842.

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.

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 810 – 815 on lower side to 860 – 865 on upper side.