EquityPandit’s Outlook for Sun Pharma for the week (December 07, 2015 – December 11, 2015):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 2.00%.

As we have mentioned last week that the resistance for the stock lies in the zone of 750 from where the stock has broken down after taking multiple supports. If the stock closes above this levels then the stock can move to the levels of 770. If the stock closes above the levels of 770 then the stock can move to the levels of 800 where 500 Daily & 100 Weekly SMA are positioned. During the week the stock manages to hit a high of 774 and retraced to close the week around the levels of 755.

Support for the stock lies in the zone of 750. If the stock closes below this levels then the stock can drift to the levels of 710 to 720 where the stock has formed a medium term support.

Resistance for the stock lies in the zone of 790 to 800 where 500 Daily SMA, 100 Weekly SMA and trend-line resistance for the stock is lying. If the stock manages to close above this levels then the stock can move to the levels of 850 where 100 Daily SMA is positioned.

Broad range for the stock in the coming week can be 730 – 740 on lower side to 790 – 800 on upper side.