EquityPandit’s Outlook for Sun Pharma for the week (May 23, 2016 – May 27, 2016):

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 0.50%.

As we have mentioned last week that the stock has closed just below the support 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 to 780 where the stock has made a short term bottom. During the week the stock manages to hit a high of 803 and close the week around the levels of 791.

Support for the stock lies in the zone of 770 to 780 where the stock has made a short term bottom. If the stock manages to close below these levels then the stock can drift to the levels of 750 to760.

Resistance for the stock lies in the zone of 800 to 810 where trend-line resistance for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 815 to 820 where short term moving averages & 100 Daily SMA is lying.

Broad range for the stock in the coming week can be 770 – 775 on lower side to 810 – 815 on upper side.