EquityPandit’s Outlook for Colgate Palmoilve for the week (November 09, 2015 – November 13, 2015):

COLGATE PALMOLIVE:

Colgate Palmolive (NSE: COLPAL) closed the week on negative note losing around 1.7%.

As we have mentioned last week that support for the stock lies in the zone of 925 to 930 from where the stock has broken out. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 885 where channel support for the stock is lying. During the week the stock manages to hit a low of 927 and bounce to close the week around the levels of 939.

Support for the stock lies in the zone of 925 to 930 from where the stock has broken out. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 885 where channel support for the stock is lying.

Resistance for the stock lies in the zone of 980 where 100 & 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels 1010 where upper end of the downward sloping channel is positioned.

The stock has formed a Hammer pattern on daily charts in a downtrend indicating the trend reversal.

Broad range for the stock is seen between 920 to 930 on lower end and 960 to 970 on upper end.