EquityPandit’s Outlook for Colgate Palmoilve for the week (January 18, 2016 – January 22, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive (NSE: COLPAL) closed the week on negative note losing around 1.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 965 to 970 where short term moving averages and 100 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1000 where channel resistance for the stock is lying. During the week the stock manages to hit a high of 951 and retraced to close the week around the levels of 917.

Support for the stock lies in the zone of 890 where the stock has formed a medium term bottom. If the stock closes below this levels then the stock can drift to the levels of 850 to 860 where channel support for the stock is lying.

Resistance for the stock lies in the zone of 965 to 970 where short term moving averages and 100 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 1000 where channel resistance for the stock is lying.

Broad range for the stock is seen between 890 to 900 on lower end and 950 to 960 on upper end.