EquityPandit’s Outlook for Sun Pharma for week (August 10, 2015 – August 14, 2015):
SUN PHARMA closed the week on positive note gaining around 4%.
As we have mentioned last week that if the stock manages to close above the levels of 825 the stock can move to the levels of 840 and if stock manages to close above the levels of 840 the stock can move to the levels of 860, the stock hit a high of 857.4 and close the week around the levels of 852.
The stock has to sustain above the levels of 860 to resume the uptrend.
If the stock breaks below the zone of 800 to 810 the stock can move to the levels of 750 where 500 Daily SMA and 100 Weekly SMA are lying.
Support for the stock is seen in the zone of 835 below which the stock can drift to the levels of 810.
Broad range for the stock in the coming week can be 800 – 820 on lower side to 860 – 880 on upper side.