EquityPandit’s Outlook for Colgate Palmoilve for the week (September 21, 2015 – September 25, 2015):

COLGATE PALMOLIVE:

Colgate Palmolive (NSE: COLPAL) closed the week on positive note gaining more than 5%.

As we have mentioned last week that resistance for the stock lies in the zone of 1850 to 1900 above which the stock can move to the levels of 1950 to 1980 where 100 and 200 Daily SMA are positioned. The stock manages to hit a high of 2004 on 18/09/2015 but could not sustain above the major resistance zone of 1950 to 1980 and close the week around the levels of 1945.

Support for the stock lies in the range of 1850 to 1870 below which the stock can drift to the levels of 1750 to 1780.

Resistance for the stock lies in the zone of 1950 to 1980 where 100 and 200 Daily SMA are positioned. If the stock manages to close above the levels of 2000 then the stock can move to the levels of 2050 to 2060 where trend-line resistance for the stock is lying.

Broad range for the stock is seen between 1800 to 1850 on lower end and 2000 to 2050 on upper end.