Shitij Gandhi
After testing Rs 1020, Colgate Palmolive (India) witnessed a V-shaped recovery and once again prices surpassed its short and long-term moving averages on the daily charts.
Additionally, the stock has also given a breakout above the bullish Flag pattern along with hefty volumes which suggest more upside in coming sessions.
So, traders can accumulate the stock in a range of Rs 1135-1120 for the upside target of Rs 1200 with a stop loss below Rs 1075.
Disclaimer: The author is a Senior Research Analyst, SMC Global Securities Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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