Parag Doctor, Head, Trading Strategies of Keynote Capital's told CNBC-TV18, "In Sun Pharmaceutical Industries we have stop loss around Rs 480 levels or so. Actually the stock along with the other defensives in the pharma and FMCG space, have been facing a lot of selling pressure recently due to the defensives being under fund selling because of the on slot in the cyclicals."
"Once this gets over we expect support to come in may be at Rs 480-490 levels. So at lower levels definitely it is a good buy and around Rs 540-550 levels is where we expect resistance to come in."
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