EquityPandit’s Outlook for Sun Pharma for the week (September 07, 2015 – September 11, 2015):
SUN PHARMA closed the week on negative note losing more than 3%.
As we have mentioned last week that 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, but the stock manages to hit a high of 917 during the week and sold off to the levels of 857.
The stock is trading at a very important support zone of 860. If the stock breaks below the levels of 860 on closing basis the stock can drift to the levels of 800.
Resistance for the stock lies in the zone of 890 to 900 where 100 and 200 Daily SMA are positioned. If the stock manages to move above this levels the stock can move to the levels of 950 where upward moving trend-line for the stock is lying.
Broad range for the stock in the coming week can be 800 – 820 on lower side to 900 – 920 on upper side.