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COLPAL Weekly Outlook and Analysis:
For the Week: (April 12,2021 – April 16,2021)
BSE: 500830| NSE: COLPAL| ISIN: INE259A01022| SECTOR: FMCG
Colgate Share Price : 1601.15(NSE)
COLPAL closed the Weekly on Positive Note Gaining 2.86%
Weekly High: 1617.15
Weekly Low: 1533.50
Weekly Range: 83.65 Points
Weekly Support & Resistance for COLPAL:
| RESISTANCE 2 | 1670 |
| RESISTANCE 1 | 1640 |
| SUPPORT 1 | 1556 |
| SUPPORT 2 | 1502 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1556 levels, Minor resistance on the upside is capped around 1640 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 1502 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1670
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predict range for the Weekly as 1670 on upside and 1502 on downside.
On the daily charts we can see that stock price closed below its important trend line support. Now 1617 level becomes important resistance for the immediate near term. To continue with up move, break above this resistance level on closing basis is required.
