EquityPandit’s Outlook for Sun Pharma for the week (December 14, 2015 – December 18, 2015):

SUN PHARMA:

SUN PHARMA closed the week on absolutely flat note.

As we have mentioned last week that the resistance for the stock lies in the zone of 790 to 800 where 500 Daily SMA, 100 Weekly SMA and trend-line resistance for the stock is lying. If the stock manages to close above this levels then the stock can move to the levels of 850 where 100 Daily SMA is positioned. During the week the stock manages to hit a high of 781.5 and retraced to close the week around the levels of 758.

Support for the stock lies in the zone of 750. If the stock closes below this levels then the stock can drift to the levels of 710 to 720 where the stock has formed a medium term support.

Resistance for the stock lies in the zone of 790 to 800 where 500 Daily SMA, 100 Weekly SMA and trend-line resistance for the stock is lying. If the stock manages to close above this levels then the stock can move to the levels of 850 where 100 Daily SMA is positioned.

Broad range for the stock in the coming week can be 730 – 740 on lower side to 790 – 800 on upper side.