EquityPandit’s Outlook for Sun Pharma for the week (September 12, 2016 – September 16, 2016) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 1.90%.

As we have mentioned last week that resistance for the stock lies in the zone of 790 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. During the week the stock manages to hit a high of 819 and close the week around the levels of 797.

Support for the stock lies in the zone of 780 to 785 where short and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 755 to 760 from where the stock has bounced in the month of August – 2016.

Minor resistance for the stock lies in the zone of 820. Resistance for the stock lies in the zone of 850 to 855 where medium term weekly moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 900 from where the stock has sold off in the month of February – 2016.

Broad range for the stock in the coming week can be 765 – 770 on lower side to 840 – 850 on upper side.