EquityPandit’s Outlook for Sun Pharma for the week (November 02, 2015 – November 06, 2015):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 0.5%.

As we have mentioned last week that support for the stock lies in the range of 860 to 870 where 100 Daily SMA and long term trend-line support for the stock is lying. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 830. During the week the stock manages to hit a low of 875 and close the week around the levels of 889.

Resistance for the stock lies in the range of 920 to 930 where 200 Daily SMA is positioned. If the stock manages to close above the levels of 930 the stock can move to the levels of 960 from where the stock has corrected couple of times in last 3 months.

Support for the stock lies in the range of 860 to 870 where 100 Daily SMA and long term trend-line support for the stock is lying. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 830.

Broad range for the stock in the coming week can be 860 – 870 on lower side to 910 – 920 on upper side.