EquityPandit’s Outlook for Sun Pharma for the week (April 04, 2016 – April 08, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 3.70%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 860. If the stock manages to close above this levels then the stock can move to the levels of 880 from where the stock has sold off in early part of March. During the week the stock manages to hit a high of 846 and close the week around the levels of 815.

Support for the stock lies in the zone of 800 to 805 where 100 Daily SMA and trend-line support for the stock is lying. If the stock manages to close below this levels then the stock can drift to the levels of 770 where the stock has made a short term bottom.

Resistance for the stock lies in the zone of 830 to 840 where 200 & 500 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 860.

Broad range for the stock in the coming week can be 770 – 780 on lower side to 840 – 850 on upper side.