EquityPandit’s Outlook for Colgate Palmoilve for the week (January 25, 2016 – January 29, 2016):
Colgate Palmolive closed the week on negative note losing around 3.80%.
As we have mentioned last week that support for the stock lies in the zone of 890 where the stock has formed a medium term bottom. If the stock closes below this levels then the stock can drift to the levels of 850 to 860 where channel support for the stock is lying. During the week the stock manages to hit a low of 880 and close at virtually the lowest levels.
Support for the stock lies in the zone of 850 to 860 where channel support for the stock is lying.
Resistance for the stock lies in the zone of 900 from where the stock has broken down from the double bottom pattern. If the stock closes above this levels then the stock can move to the levels of 940 to 950 where short term moving averages and 100 Daily SMA is positioned.
Broad range for the stock is seen between 850 to 860 on lower end and 910 to 920 on upper end.