COLGATE POSITIONAL CALL – TECHNICAL REPORT – SHORT TERM – HOLDING CALL

positional call – buy COLGATE @ 1450 sl 1390 target 1550-1650 below 1390 colgate can fall quickly so keep it as sl please.

below 1390 one can sell with 1480 sl target 1300-1200

Study view– As per the daily chart of COLGATE we can see that its having 100MA level 1397 and it exactly touched there and given decent bounce till 1450 level. according to trend line range it has given many different signals which worked according to trend. right now its looking for reverse move if it able to break and cross above 1450 level and able to close above this range.

eventually we cant avoid selling below 1390 level also. as its seems to be major support zone for it.

according to candle stick patterns it has form 3 inside up candle shows the reversal in trend. also it has form Bullish engulfing pattern on 23/05/2013

so all indicating reversal in its trend. but with support of 1390 level below this to expect selling.