EquityPandit’s Outlook for Colgate Palmolive for the week  (Oct 23, 2017 – Oct 27, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 4.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 1070 to 1075. Support for the stock lies in the zone of 1040 to 1050 from where the stock has broken out of April-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of 1000 to 1010 where 200 daily moving averages are lying. During the week the stock manages to hit a low of 1026 and close the week around the levels of 1047.

Support for the stock lies in the zone of 1030 to 1040 from where the stock has broken out of April-2017 highs. If the stock manages to close below these levels then the stock can witness a major breakdown and can drift to the levels of 960 to 970 from where the stock has bounced in the month of May-2017.

Resistance for the stock lies in the zone of 1080 to 1090 where short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1130 to 1135 from where the stock has broken down after consolidation.

Broad range for the stock is seen between 1000 to 1010 on downside & 1100 to 1110 on upside.