EquityPandit’s Outlook for Colgate Palmoilve for the week (September 14, 2015 – September 18, 2015):
Colgate Palmolive (NSE: COLPAL) closed the week on negative note losing more than 2%.
As we have mentioned last week that the stock has the strong support 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 but the stock manage to hit a low of 1796 and bounced back to the levels of 1850.
Resistance for the stock lies in the zone of 1850 to 1900 above which the stock can move to the levels of 1950 to 1980 where 100 and 200 Daily SMA are positioned.
Support for the stock lies in the range of 1790 to 1800 below which the stock can move to the levels of 1730 to 1740 where trend-line support for the stock is positioned.
Broad range for the stock is seen between 1750 to 1770 on lower end and 1900 to 1920 on upper end.