COLPAL Weekly Outlook and Analysis:
For the Week: (June 05, 2021 – June 11, 2021)
BSE: 500830| NSE: COLPAL| ISIN: INE259A01022| SECTOR: FMCG
Colgate Share Price : 1696.65 (NSE)
COLPAL closed the Weekly on Negative Note Losing 0.85%
Weekly High: 1794.85
Weekly Low: 1691.80
Weekly Range: 103.05 Points
Weekly Support & Resistance for COLPAL:
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1660 levels, Minor resistance on the upside is capped around 1765 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 1620and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1830
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predict range for the Weekly as 1830on upside and 1620 on downside.
On Daily chart basis, we can see a sharp rally bounce off from the exact 1.618 projection of Fibonacci and now the stock is moving below the resistance zone with fast momentum. A black body appeared on the candle. Stock can take support from 1064-1665 levels.