EquityPandit’s Outlook for Sun Pharma for the week (March 28, 2016 – April 01, 2016):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 3.70%.

As we have mentioned last week that stock has closed around the support zone of 810 to 820 where 100 & 500 Daily SMA is lying. Around 800 the stock has a trend-line support. If the stock manages to close below this levels then the stock can drift to the levels of 760. During the week the stock manages to hit a low of 817 and close the week around the levels of 846.

Support for the stock lies in the zone of 835 to 840 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 810 to 820 where 100 & 500 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 860. If the stock manages to close above this levels then the stock can move to the levels of 880 from where the stock has sold off in early part of March.

Broad range for the stock in the coming week can be 810 – 820 on lower side to 870 – 880 on upper side.