EquityPandit’s Outlook for Colgate Palmolive for the week  (Oct 03, 2017 – Oct 06, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 3.00%.

As we have mentioned last week that support for the stock lies in the zone of 1080 to 1090 where Fibonacci level and short term moving average are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1055 to 1065 where break out levels and medium term moving averages are lying. During the week the stock manages to hit a low of 1050 and close the week around the levels of 1067.

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.

Minor resistance for the stock lies in the zone of 1090 to 1100. 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 1150 to 1160.

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