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Colgate Palmolive Technical Analysis #74: Buy | Target Rs 1235 | Arijit Banerjee

OUR RECOMMENDATION

CMP#1168.75
IdeaBUY
Buy Range1165 – 1180
Target1235 – 1250
StopLoss*1140
Duration15 – 20 Trading Sessions
Potential Return^6 – 7%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
1168.75BUY1165 – 11801235 – 1250114015 – 20 Trading Sessions6 – 7%

# CMP on July 30, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1202.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Colgate-Palmolive (India) Ltd manufactures and trades oral-care, personal-care, household-care, and dentist care products. The Company offers various personal care products, such as toothpastes, toothpowder, toothbrushes, mouthwashes, soaps, cosmetics and toilet preparations. The company also offers a range of personal care products under the palmolive name.

Stock Data
NSE CodeCOLPAL
Sectoral IndexNifty FMCG
52W High1354.8
52W Low1018.3
Face Value1
Relative Performance_Colgate Palmolive vs Nifty FMCG

TECHNICAL OBSERVATIONS (WEEKLY)

  • The weekly chart of Colgate Palmolive Limited is displaying that the stock price was moving in a larger consolidation channel pattern in the last three years and is currently making an attempt to reach the upper boundary of the channel pattern.
Colgate Palmolive Weekly Chart
Colgate Palmolive Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • Presently prices are on the verge of completing upside breakout from triangular pattern signals continuation of Uptrend
Colgate Palmolive Daily Chart
Colgate Palmolive Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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