EquityPandit’s Outlook for Sun Pharma for the week (August 31, 2015 – September 04, 2015):
SUN PHARMA closed the week on negative note losing more than 5%.
As we have mentioned last week that the support for the stock lies in the range of 900 to 910 where 100 & 200 Daily SMA are positioned. Below which the stock can drift to the levels of 860 from where the stock has broken out. The stock has hit a low of 850 during the week and bounce back to the levels of 886.
If the stock manages to close above the levels of 920 the stock can move to the levels of 960 where upward moving trend-line is positioned.
If the stock breaks below the levels of 860 on closing basis the stock can drift to the levels of 800.
Broad range for the stock in the coming week can be 820 – 840 on lower side to 960 – 980 on upper side.