EquityPandit’s Outlook for Sun Pharma for the week (September 21, 2015 – September 25, 2015):
SUN PHARMA closed the week on positive note gaining around 7%.
As we have mentioned last week that resistance for the stock lies in the zone of 855 to 860. If the stock manages to close above this levels the stock can move to the levels of 890 to 900 where 100 Daily SMA and 200 Daily SMA are positioned. The stock manages to hit a high of 920 and close the week around the levels of 905.
Support for the stock lies in the zone of 860 to 870 below which the stock can drift to the levels of 810 where long term support for the stock is lying.
Resistance for the stock lies in the range of 920 to 930. If the stock manages to close above the levels of 920 the stock can move to the levels of 960 from where the stock has retraced couple of times in last 2 months.
Broad range for the stock in the coming week can be 850 – 860 on lower side to 930 – 940 on upper side.