EquityPandit’s Outlook for Colgate Palmoilve for the week (September 07, 2015 – September 11, 2015):
Colgate Palmolive (NSE: COLPAL) closed the week on negative note losing more than 3%.
As we have mentioned last week that if the stock manages to close above the levels of 1980 the stock can move to the levels of 2010 where 100 Daily SMA is positioned. Above the levels of 2010 the stock can move to the levels of 2080 where trend-line resistance for the stock is lying. The stock manages to hit a high of 1962 during the week and sold off to the levels of 1870.
The stock has the strong support zone around the levels of 1850 to 1860 where long term trend-line is positioned. If the stock drifts below the levels of 1850 the stock can correct to the levels of 1700 where trend-line support for the stock is lying.
Resistance for the stock lies in the zone of 1960 where 200 Daily SMA is positioned.
Broad range for the stock is seen between 1800 to 1820 on lower end and 1920 to 1940 on upper end.