EquityPandit’s Outlook for Colgate Palmolive for the week (August 08, 2016 – August 12, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 2.80%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 945 to 950. Resistance for the stock lies in the zone of 970 to 980 from where the stock has sold off in the month of Jan – 2016. If the stock manages to close above these levels then the stock can move to the levels of 1000. During the week the stock manages to hit a high of 988 and close the week around the levels of 960.

Minor support for the stock lies in the zone of 930. Support for the stock lies in the zone of 900 to 910 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 870 to 880 where medium term moving averages are lying.

Resistance for the stock lies in the zone of 970 to 980 from where the stock has sold off in the month of Jan – 2016. If the stock manages to close above these levels then the stock can move to the levels of 1000.

Broad range for the stock is seen between 910 to 920 on lower end and 1000 to 1020 on upper end.