EquityPandit’s Outlook for Sun Pharma for the week (June 27, 2016 – July 01, 2016):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 1.60%.

As we have mentioned last week that minor support for the stock lies in the zone of 730. Support for the stock lies in the zone of 700 from where the stock has bounced in the month of Nov – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 650 to 660 from where the stock has broken out in the month of June – 2014. During the week the stock manages to hit a low of 731 and close the week around the levels of 755.

Minor support for the stock lies in the zone of 730. Support for the stock lies in the zone of 700 from where the stock has bounced in the month of Nov – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 650 to 660 from where the stock has broken out in the month of June – 2014.

Resistance for the stock lies in the zone of 765 to 770 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 780 to 790 where short & medium term moving averages are lying.

Broad range for the stock in the coming week can be 720 – 725 on lower side to 775 – 780 on upper side.