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⭐️ Ultra Equity Advice #127 | Buy | Expected Profit 10-13%

POSITIONAL TRADING ADVICE

 Buy  Colgate Palmolive (India) Limited (NSE: COLPAL)

Colgate Palmolive (India) STOCK RECOMMENDATION

CP#1359.5
IdeaBUY
Buy Range1310 – 1360
Target1470 – 1510
StopLoss*1270
Duration8 – 10 Trading Days
Potential Returns^10 – 13%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
1359.5BUY1310 – 13601470 – 151012708 – 10 Trading Days10 – 13%

# CP – closing price on May 08, 2020.
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1415.
^ Potential returns are calculated based on the median of buy range.

COMPANY OVERVIEW - Colgate Palmolive (India)

Colgate-Palmolive (India) Limited (NSE: COLPAL) is the largest manufacturer of personal oral care products in India. The company offers toothpaste, toothpowder, toothbrushes, mouthwashes under the brand name Colgate. The company also provides a range of personal care products under the brand name Palmolive. Colgate-Palmolive Company, U.S.A. is the company’s ultimate holding company. In Q3FY20, the standalone revenue jumped 3.6% to Rs 199.1 crore as against the year-ago period.

Stock Data
NSE CodeCOLPAL
Sectoral IndexNifty FMCG
52W High1,642.60
52W Low1,065.00
Face Value1
Relative Performance - Colgate Palmolive (India) vs Nifty FMCG Index

Colgate Palmolive (India) TECHNICAL ANALYSIS (WEEKLY)

Colgate Palmolive NSE COLPAL Share Price Chart - Weekly
Colgate Palmolive India (NSE: COLPAL) Share Price Chart - Weekly
  • After the strong positive rally in the last two months, the stock has taken intermediate support above the breakout area of 1290-1300.
  • Colgate Palmolive (India) chart analysis on weekly timeframe shows the change of polarity principle and a higher base building process that is acting as a launchpad for the next up move.

Colgate Palmolive (India) TECHNICAL ANALYSIS (DAILY)

Colgate Palmolive NSE COLPAL Share Price Chart - Daily
Colgate Palmolive India (NSE: COLPAL) Share Price Chart - Daily
  • As seen in the Colgate Palmolive (India) price chart, the stock has given a sharp upside breakout of it’s last seven days downtrend.
  • Volumes have been healthy in this breakout confirming the bullishness.
  • Such turnaround of the Colgate Palmolive (India) share price structure with volume confirmation presents a fresh buying opportunity in the stock.
  • The momentum oscillator RSI is also moving northwards after trendline breakout and thus showing strength in the counter.

CONCLUSION

Based on our short term trading recommendation, Colgate Palmolive (India) share price target will be 1470-1510 in the next 8-10 trading days.

Colgate Palmolive (India) SHARE PRICE LIVE UPDATE - POSITION & ACTIVITIES

Position: Long Colgate Palmolive (India) at ₹ 1320 by GoodluckCapital on TradingView

Position: Long Colgate Palmolive (India) at ₹ 1320 by GoodluckCapital on TradingView

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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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