EquityPandit’s Outlook for Colgate Palmoilve for the week (March 21, 2016 – March 23, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 4.60%.

As we have mentioned last week that resistance for the stock lies in the zone of 850 to 860 from where the stock has broken down. If the stock manages to close above this levels then the stock can move to the levels of 880 to 890 where short term moving averages, 500 Daily SMA and 100 Weekly SMA is lying. During the week the stock manages to hit a high of 854 and close the week around the levels of 851.

Support for the stock lies in the zone of 790 to 810 where the stock has formed a short term bottom. If the stock closes below this levels then the stock can drift to the levels of 760 to 770 where 1000 Daily SMA and 200 Weekly SMA is lying.

Resistance for the stock lies in the zone of 850 to 860 from where the stock has broken down. If the stock manages to close above this levels then the stock can move to the levels of 880 to 890 where 500 Daily SMA and 100 Weekly SMA is lying.

Broad range for the stock is seen between 810 to 820 on lower end and 880 to 890 on upper end.