EquityPandit’s Outlook for Sun Pharma for the week (August 22, 2016 – August 26, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 2.10%.

As we have mentioned last week that 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 773 and close the week around the levels of 784.

Minor support for the stock lies in the zone of 773. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 763 where the stock has made a short term bottom.

Resistance for the stock lies in the zone of 795 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 760 – 765 on lower side to 800 – 810 on upper side.