EquityPandit’s Outlook for Colgate Palmolive for week (July 13, 2015 – July 17, 2015):
Colgate Palmolive (NSE: COLPAL) closed the week on negative note losing around 3%.
During the week stock broke below the 100 Daily SMA positioned around the levels of 2008 and short term moving averages.
Support for the stock lies in the zone of 1970 to 1990 where short term moving averages and downward sloping channel is positioned.
Resistance for the stock lies in the zone of 2010 to 2030 levels where 100 Daily SMA is lying.
If the stock manages to close above the levels of 2010 for couple of days the stock can move towards the levels of 2080.
If the stock breaks below the levels of 1960 the stock can move to the levels of 1900 where 200 Daily SMA is lying.
Broad range for the stock is seen between 1950 to 1970 on lower end and 2080 to 2120 on upper end.