EquityPandit’s Outlook for Colgate Palmoilve for the week (December 28, 2015 – January 01, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive (NSE: COLPAL) closed the week on negative note losing around 1.0%.

As we have mentioned last week that resistance for the stock lies in the zone of 1010 where upper end of the downward sloping channel is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1050. During the week the stock manages to hit a high of 1006 and retraced to close the week around the levels of 982.50.

Support for the stock lies in the range of 960 where 100 Daily SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 940.

The stock has closed just below the strong resistance zone of 990 to 1010 where 200 Daily SMA and channel resistance for the stock are positioned. If the stock manages to close above this levels then the stock can move to the levels of 1050.

Broad range for the stock is seen between 950 to 960 on lower end and 1010 to 1030 on upper end.