EquityPandit’s Outlook for Colgate Palmoilve for the week (November 02, 2015 – November 06, 2015):
Colgate Palmolive (NSE: COLPAL) closed the week on positive note gaining around 1.5%.
As we have mentioned last week that resistance for the stock lies in the zone of 950 to 960. If the stock manages to close above this levels then the stock can move to the levels of 975 to 985 where 100 Daily SMA and 200 Daily SMA are positioned. During the week the stock manages to hit a high of 995 and retraced to close the week around the levels of 955.
Support for the stock lies in the zone of 925 to 930 from where the stock has broken out. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 885 where channel support for the stock is lying.
Resistance for the stock lies in the zone of 980 where 100 & 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels 1010 where upper end of the downward sloping channel is positioned.
Broad range for the stock is seen between 920 to 930 on lower end and 990 to 1000 on upper end.