Weekly Outlook for Nifty Pharma and its main components (June 06, 2016 to June 10, 2016)

Information about Weekly Outlook for Nifty Pharma and its main components (June 06, 2016...

Published on June 4, 2016

Author: equitypandit

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1. DATE: 03/06/2016 WEEKLY OUTLOOK FOR NIFTY PHARMA AND ITS MAIN COMPONENTS (06/06/2016 - 10/06/2016) © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Jagrut Shah Darpan Shah Sr. Research Analyst Head - Research EquityPandit Financial Services Pvt. Ltd. 305, Trinity Business Centre, L. P. Savani Road, Surat - 395009 Gujarat An ISO 9001:2008 Certified Company www.equitypandit.com

2. PAGE 2 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty PHARMA index closed the week on negative note losing around 3.60%. As we have mentioned last week that resistance for the index lies in the zone of 11300 to 11400 where 100 Daily SMA and 100 Weekly SMA are lying. If the index manages to close above these levels then the index can move to the levels of 11800 to 12000 where 200 Daily SMA is lying. During the week the index manages to hit a high of 11318 and close the week around the levels of 10808. Support for the index lies in the zone of 10400 to 10500 where weekly trend-line support for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 10300 from where the index has bounced in the month of Mar - 2016. Resistance for the index lies in the zone of 11000 where channel resistance for the index is lying. If the index manages to close above these levels then the index can drift to the levels of 11300 to 11400 where 100 Daily SMA and 100 Weekly SMA are lying. Broad range for the index is seen from 10250 to 10300 on downside to 11000 to 11100 on upside. NIFTY PHARMA

3. PAGE 3 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] SUN PHARMA closed the week on negative note losing around 10.60%. As we have mentioned last week that 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. During the week the stock manages to hit a high of 842 and close the week around the levels of 737. 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 800 where short term moving averages are lying. Broad range for the stock in the coming week can be 700 - 710 on lower side to 765 - 770 on upper side. SUN PHARMA

4. PAGE 4 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Lupin closed the week on negative note losing around 2.00%. As we have mentioned last week that support for the stock lies in the zone of 1400 to 1450 from where the stock has bounced in the month of March-2016. If the stock manages to close below these levels then the stock can drift to the levels of 1300. During the week the stock manages to hit a low of 1446 and close the week around the levels of 1450. Support for the stock lies in the zone of 1400 to 1450 from where the stock has bounced in the month of March-2016. If the stock manages to close below these levels then the stock can drift to the levels of 1300. Resistance for the stock lies in the zone of 1500 to 1530 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the lev- els of 1580 to 1600 where channel support which was holding the stock since the month of May - 2015 is lying. Broad range for the stock is seen from 1400 - 1420 on downside to 1530 - 1550 on upside. LUPIN

5. PAGE 5 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Dr Reddy closed the week on positive note gaining around 1.40%. As we have mentioned last week that resistance for the stock lies in the zone of 3100 to 3150 from where the stock has sold off in the month of April - 2016. If the stock manages to close above these levels then the stock can move to the levels of 3200 to 3250 where 500 Daily SMA is lying. During the week the stock manages to hit a high of 3220 and close the week around the levels of 3160. Support for the stock lies in the zone of 3020 to 3050 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2750 to 2800 where the stock has formed a medium term bottom. The stock has closed around the resistance zone of 3150 to 3170 from where the stock has sold off in the month of April - 2016. If the stock manages to close above these levels then the stock can move to the levels of 3250 to 3300 where 500 Daily SMA is lying. Broad range for the stock is seen from 3020 - 3050 on downside to 3220 - 3250 on upside. DR. REDDY

6. PAGE 6 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] CIPLA closed the week on negative note losing around 1.70%. As we have mentioned last week that resistance for the stock lies in the zone of 480 to 490 where the stock has opened gap down on 25/05/2016. If the stock manages to close above these levels then the stock can move to the levels 520 where short term moving averages are lying. During the week the stock manages to hit a high of 479 and close the week around the levels of 465. Support for the stock lies in the zone of 450 from where the stock has broken out of the multi month consolidation in the month of Aug - 2014. If the stock manages to close below these levels then the stock can drift to the levels of 400 to 410. Resistance for the stock lies in the zone of 480 to 490 where the stock has opened gap down on 25/05/2016. If the stock manages to close above these levels then the stock can move to the levels 520 where short term moving averages are lying. Broad range for the stock is seen in the range of 450 - 455 on downside to 485 - 490 on up- side. CIPLA

7. PAGE 7 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] About EquityPandit EquityPandit was established in year 2005. Today, EquityPandit is one of the Leading Equity Research Company in India, with around 33400 active subscribers around the globe, who enjoy huge profits in association with EquityPandit. We have been in this industry for a LONG time. In fact, we were among the First few Indian entities in the Advisory domain to venture onto the Inter- net. Today, we have subscribers... in 32 countries worldwide who trust us! We are an ISO Certified company for quality of our services. We were the First Company to bring research and advisory based on Tech- nical analysis on internet in India, until then, only investment research was available on internet in India. Disclaimer: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. Minimum amount mentioned here depends upon stock prices and market conditions and will vary accordingly.

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