EquityPandit’s Outlook for Sun Pharma for week (July 13, 2015 – July 17, 2015):
SUN PHARMA closed the week on positive note gaining around 3.5%.
As we have mentioned last week that if the stock manages to close above the levels of 885 we may see stock moving towards the levels of 900 to 920 where 200 Daily SMA and upward sloping trend-line is positioned.
On 10/07/2015 the stock manages to move above the resistance zone of 880 to 890 and the stock also close above the 200 Daily SMA positioned around the levels of 900.
The stock is approaching towards the upward sloping trend-line resistance positioned around the levels of 920. Above the levels of 920 the stock can move to the levels of 960 where 100 Daily SMA is lying.
Support for the stock is seen in the zone of 850 to 870 where short term moving averages and trend-line support are positioned.
Broad range for the stock in the coming week can be 850 – 870 on lower side to 920 – 940 on upper side.