Sanofi Q3 results on the radar

Drug maker Sanofi India is announcing its financial results for the quarter ended December 31, 2013 on Tuesday. Since taking support at ₹2,250 early last week, the stock has advanced 7 per cent in anticipation of good results. Its 200-day moving average also provided a base at this support level. However, the stock is facing an important resistance level ahead at ₹2,800. A positive surprise can lift the share to ₹2,900. Else, shares of Sanofi could decline to ₹2,600 or ₹2,550 in the near-term.