EquityPandit’s Outlook for Colgate Palmoilve for the week (August 31, 2015 – September 04, 2015):

COLGATE PALMOLIVE:

Colgate Palmolive (NSE: COLPAL) closed the week on negative note losing more than 2%.

During the week the stock sold off to the levels of 1860 where trend-line support for the stock is lying. The stock close the week around the levels of 1947.

The stock has formed a Hammer pattern on weekly charts.

If the stock manages to close above the levels of 1980 the stock can move to the levels of 2010 where 100 Daily SMA is positioned. Above the levels of 2010 the stock can move to the levels of 2080 where trend-line resistance for the stock is lying.

The stock has the strong support zone around the levels of 1850 to 1860 where long term trend-line is positioned,

Resistance for the stock lies in the zone of 1960 where 200 Daily moving average is positioned.

Broad range for the stock is seen between 1840 to 1860 on lower end and 1980 to 2000 on upper end.