Sell Colgate-Palmolive Ltd For Taraget Rs.1,510 - Religare Broking
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Derivative Ideas
COLPAL shed 1.69% and closed at 1562.8 on 3rd Jun. The stock has been facing hindrance going higher. Recently the stock had broken and started trading below its important support at 1600 that too with incremental volumes and addition of Shorts in its FUTS. Trading below its 50 day EMA, the stock is likely to witness further pressure. We thus suggest initiating Shorts in FUTS as per the recommended levels.
Strategy:- SELL COLPAL FUTS @1580-1585, SLOSS AT 1605, TRGT 1510.
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