Colgate – Triangle Breakout. Headed to 1400/1500

 

Colgate

 

This is an interesting chart formation on a defensive FMCG stock.

 

The stock made multiple attempts at both ends of the triangle. On expected lines it has broken out above 1300-1310.

 

Could be a good short to medium term pick with 1300-1320 being a buy zone and stoploss at 1250-1270.

Upside target at 1400-1500.

 

Disclosure: Recommended strongly to clients at

 

 

Thanks and Regards,

Nooresh Merani

www.analyseindia.com

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