EquityPandit’s Outlook for Colgate Palmoilve for the week (October 05, 2015 – October 09, 2015):

COLGATE PALMOLIVE:

Colgate Palmolive (NSE: COLPAL) closed the week on positive note gaining around 1%.

As we have mentioned last week that resistance for the stock lies in the zone of 980 to 990 where 100 and 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 1020 where upper end of the channel is positioned. During the week the stock manages to hit a high of 974 and close the week around the levels of 962.

Support for the stock lies in the zone of 927 where the stock has made a double bottom. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 880 to 900 where channel support for the stock is lying.

The stock has formed a Shooting Star pattern on daily charts around the strong resistance zone. Resistance for the stock lies in the zone of 980 to 990 where 100 and 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 1020 where upper end of the channel is positioned.

Broad range for the stock is seen between 930 to 940 on lower end and 980 to 990 on upper end.