EquityPandit’s Outlook for Sun Pharma for the week (November 09, 2015 – November 13, 2015):
SUN PHARMA closed the week on negative note losing around 9.70%.
During the week the stock broke all the support levels and drifted to the levels of 800 where strong support for the stock is lying. As seen from the charts the levels of 800 is holding the stock in recent corrections. If the stock closes below the levels of 800 then the stock can drift to the levels of 750 to 770 where trend-line support and 500 Daily SMA are positioned.
100 Weekly SMA is also lying around the levels of 800. So the levels of 800 should act as a strong support zone for the stock.
Resistance for the stock lies in the zone of 830. If the stock moves above this levels on closing basis then the stock can move to the levels of 860 where trend-line resistance for the stock is positioned.
Broad range for the stock in the coming week can be 775 – 780 on lower side to 830 – 840 on upper side.