EquityPandit’s Outlook for Colgate Palmolive for the week  (Dec 26, 2017 – Dec 29, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 1.90%.

As we have mentioned last week that minor support for the stock lies in the zone of 1050 to 1055. Support for the stock lies in the zone of 1020 to 1030 where the stock has taken multiple support. 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. During the week the stock manages to hit a low of 1054 and close the week around the levels of 1092.

Support for the stock lies in the zone of 1070 to 1080 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1040 to 1050 where short and long term moving averages are lying.

Resistance for the stock lies in the zone of 1130 to 1135 from where the stock has broken down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1160 to 1180 where the stock has formed a high in the month of September-2017.

Broad range for the stock is seen between 1040 to 1050 on downside & 1130 to 1140 on upside.