EquityPandit’s Outlook for Sun Pharma for the week (May 02, 2016 – May 06, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 1.00%.

As we have mentioned last week that support for the stock lies in the zone of 800 to 810 where 100 Daily SMA and trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 770 where the stock has made a short term bottom. During the week the stock manages to hit a low of 797 and close the week around the levels of 811.

Support for the stock lies in the zone of 800 to 810 where trend-line support for the stock is lying. If the stock manages to close below these 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 835 to 840 where short term moving averages & 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 860.

Broad range for the stock in the coming week can be 790 – 795 on lower side to 825 – 830 on upper side.