Signals, Powered By EquityPandit
COLPAL Weekly Outlook and Analysis:
For the Week: (June 14,2021 – June 18,2021)
BSE: 500830| NSE: COLPAL| ISIN: INE259A01022| SECTOR: FMCG
Colgate Share Price : 1701.15 (NSE)
COLPAL closed the Weekly on Positive Note Gaining 0.27%
Weekly High: 1727
Weekly Low: 1688.05
Weekly Range: 38.95 Points
Weekly Support & Resistance for COLPAL:
| RESISTANCE 2 | 1744 |
| RESISTANCE 1 | 1722 |
| SUPPORT 1 | 1683 |
| SUPPORT 2 | 1666 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1683 levels, Minor resistance on the upside is capped around 1722 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 @ 1666 and 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 @ 1744
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predict range for the Weekly as 1744 on upside and 1666 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 key resistance zone for the past few sessions. If we look from an immediate short-term angle, stock will not have any sustainable up move unless this resistance level near 1725 is taken out.
