EquityPandit’s Outlook for Sun Pharma for the week (May 30, 2016 – June 03, 2016):

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 4.20%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 771 and close the week around the levels of 825.

Support 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 below these levels then the stock can drift to the levels of 770 to 780 where the stock has made a short term bottom.

Resistance for the stock lies in the zone of 830 to 840 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 850 to 860.

Broad range for the stock in the coming week can be 800 – 810 on lower side to 845 – 850 on upper side.