Colgate Palmolive Outlook for the Week (Oct 12,2020 – Oct 16,2020)


For the Week: (Oct 12,2020 – Oct 16,2020)

COLPAL

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

Colgate Share Price : 1462.85 (NSE)

COLPAL closed the Weekly on positive note gaining 1.58%.

Weekly High: 1477.45

Weekly Low: 1420.10

Weekly Range: 57.35 points

Weekly Support & Resistance for COLPAL:

RESISTANCE 2 1511
RESISTANCE 1 1487
SUPPORT 1 1429
SUPPORT 2 1395

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1429 levels, Minor resistance on the upside is capped around 1487 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 @ 1395 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 @ 1511

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predict range for the Weekly as on 1511 upside and 1395 on downside.

The present structure shows that COLPAL share price moving in the form of Double bottom pattern. Share looks to be positive for now. As prices have decisively broken above 1428 we expect it to reach a target of 1490 level based on our analysis.