EquityPandit’s Outlook for Sun Pharma for the week (November 16, 2015 – November 20, 2015):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 7.80%.

The stock opened big gap down on 09/11/2015 on weak clues. The stock opened below the strong support zone of 800 and drifted to the lower levels. The stock hit a low of 724 during the week.

The stock ended the week below the strong support zone of 750. If the stock trades below the levels of 750 for couple of days then the stock can drift to the levels of 600 where 1000 Daily & 200 Weekly SMA are positioned.

Resistance for the stock lies in the zone 770 where the stock has opened gap down. 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.

Broad range for the stock in the coming week can be 710 – 720 on lower side to 770 – 780 on upper side.