EquityPandit’s Outlook for Colgate Palmolive for the week (Aug 27, 2018 – Aug 31, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 2.30%.

As we have mentioned last week, that resistance for the stock lies around 1150 to 1160 from where the stock has broken down and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1180 to 1190 where high for the month of July-2018 is lying. During the week the stock manages to hit a high of 1195 and close the week around the levels of 1170.

Support for the stock lies in the zone of 1150 to 1160 from where the stock has broken out and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1100 to 1110 where long term moving averages and Fibonacci levels are lying.

Resistance for the stock lies around 1180 to 1200 where high for the month of July-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 1230 to 1240 from where the stock broke down after consolidation.

Broad range for the stock is seen between 1120 to 1130 on downside & 1200 to 1220 on upside.