In the previous session, Domestic indices concluded volatile session in the red territory. The Nifty index opened on a negative note but gradually recovered some losses.. Later we have seen sell off again from higher levels. On a technical note, the index formed a Doji candle with a long higher wick on the chart and closed with a net loss of 75 points. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Friday, March 24,2023’ before the market opens.

Colgate-Palmolive (India) Ltd

On the daily time frame, COLPAL is moving above the Cup and Handle pattern. Cup pattern completed near to the price of 1513. The consolidation between 1513 and 1478 levels took around 12 days on the right-hand side of the pattern and the handle was formed. Stock in the previous session formed a green body candle which indicates bullishness. The Relative Strength Index (RSI) on the daily chart is 65 and it is moving near previous high.

The overall outlook for COLPAL will remain Positive. one can initiate buy around 1513-1520 levels which can take price towards 1557 levels. This outlook is valid as long as we do not see any closing below 20 EMA support.

Check More Analysis on COLPAL at: Colgate-Palmolive (India) Ltd