I have received a query today from one of the investors for Colgate Palmolive and Allahbad Bank. Please find my observations below:
Colgate Palmolive:
Colgate seems to have retracted back and after falling from 1500 levels it is close to its base at 1200 and seems to have spent considerable time and energy. This suggests that there is enough in the stock to sustain it above 1200. While the stock may give time to provide profits the same should not be sold if you are holding it. But the stop should be below 1160 levels below which it might turn extremely weak.
Allahbad Bank:
The stock seems to be in a basing pattern after falling quite badly over last 4 months. There is a huge base between 65 and 75 which will give it enough strength and is very attractive for a long term investor. However it might not be suitable for momentum or swing trading.
Colgate Palmolive:
Colgate seems to have retracted back and after falling from 1500 levels it is close to its base at 1200 and seems to have spent considerable time and energy. This suggests that there is enough in the stock to sustain it above 1200. While the stock may give time to provide profits the same should not be sold if you are holding it. But the stop should be below 1160 levels below which it might turn extremely weak.
Allahbad Bank:
The stock seems to be in a basing pattern after falling quite badly over last 4 months. There is a huge base between 65 and 75 which will give it enough strength and is very attractive for a long term investor. However it might not be suitable for momentum or swing trading.
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