Enter Colgate Palmolive: Sudarshan Sukhani

Enter Colgate Palmolive (India), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Colgate Palmolive (India) is a stock that should rally. We have got it from Rs 800 onwards, it is now more than Rs 1,200. On Monday, it made something that is called a very narrow range day. The Nifty also made a narrow range day, traded in just 22 points. For an individual stock, that has probably a little more significance because the stock can go up while the Nifty can sometimes just stay where it is."
He further added, "Colgate’s narrow range day tells us other big upmove is coming. The trend is up, so the move should be on the upside. This is not a day trade per se because a stock like Colgate is picked up, you want to stay with it for a couple of days or three days or four days but it is a good day to enter it today.
"Opto Circuits India has the modest downside target of Rs 100 for the short-term or for a couple of days. If this Rs 100 breaks then we are looking at it for literally a free fall. Opto Circuits came to Rs 100 then bounced back but there was an earlier resistance at Rs 112-113 and it has stopped right there. It is again sliding down and that is a pity. This is a short selling candidate and some money is there on the short side." Disclosure: I have no holdings in the above stocks.