EquityPandit’s Outlook for Sun Pharma for the week (February 01, 2016 – February 05, 2016):
SUN PHARMA closed the week on positive note gaining around 10.60%.
As we have mentioned last week that resistance for the stock lies in the zone of 810 to 820 where 500 Daily SMA and 100 Weekly SMA are lying. If the stock closes above this levels then the stock can move to the levels of 840 to 850 where 100 Daily SMA is lying. During the week the stock manages to hit a high of 878 and virtually close at the highest levels.
Support for the stock lies in the zone of 840 to 850 where 200 Daily SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 820 where 100 Daily SMA and 100 Weekly SMA is lying.
Resistance for the stock lies in the zone of 900 to 910 from where the stock has sold off in the month of November – 2015.
Broad range for the stock in the coming week can be 840 – 850 on lower side to 900 – 910 on upper side.