Colgate Palmolive Outlook for the Week (Sept 21,2020 – Sept 25,2020)


For the Week: (Sept 21,2020 – Sept 25,2020)

COLPAL

BSE: 500830| NSE: COLPAL| ISIN: INE259A01022| SECTOR: FMCG

Colgate Share Price : 1372.65 (NSE)

COLPAL closed the Weekly on negative note losing 3.24%.

Weekly High: 1427.90

Weekly Low: 1363.00

Weekly Range: 64.09 points

Weekly Support & Resistance for COLPAL:

RESISTANCE 2 1451
RESISTANCE 1 1412
SUPPORT 1 1348
SUPPORT 2 1323

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1348 levels, Minor resistance on the upside is capped around 1412 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 1323 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1451

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predict range for the Weekly as on 1451 upside and 1323 on downside.

On the daily chart stock closed below Band Bollinger. A black body appeared on the candle. If we look from an immediate short-term angle, stock will not have any sustainable up move unless this level of 1430 is taken out.