EquityPandit’s Outlook for Colgate Palmolive for the week (August 01, 2016 – August 05, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 2.30%.

As we have mentioned last week that resistance for the stock lies in the zone of 970 to 980 from where the stock has sold off in the month of Jan – 2016. If the stock manages to close above these levels then the stock can move to the levels of 1000. During the week the stock manages to hit a high of 972 and close the week around the levels of 933.

Support for the stock lies in the zone of 900 to 910 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 870 to 880 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 945 to 950. Resistance for the stock lies in the zone of 970 to 980 from where the stock has sold off in the month of Jan – 2016. If the stock manages to close above these levels then the stock can move to the levels of 1000.

Broad range for the stock is seen between 890 to 900 on lower end and 960 to 970 on upper end.