Colgate Palmolive (India) Recommended by Sumeet Bagadia

Key Highlights

• Choice Broking has recommended buying Colgate Palmolive (India) around ₹2,200 and up to ₹2,160 for a target of ₹2,420 and ₹2,530 in the medium term.
• The stock has recently delivered a decisive breakout from a key chart formation, suggesting a shift in momentum in favour of the bulls.
• Colgate Palmolive (India) is currently trading around 20% away from its 52-week high of ₹2,745.95, hit in May 2025.

Technical Analysis

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• The stock has moved past a falling wedge pattern on the weekly chart and subsequently retested the breakout zone, reinforcing confidence in the sustainability of the move.
• The breakout was supported by strong trading volumes, indicating healthy buying interest among investors.
• The stock is currently trading above key moving averages, including the 50-day and 100-day moving averages, which typically signals strength in the underlying trend.

Momentum Indicators

• The Relative Strength Index (RSI) has remained above the midpoint level of 50, which generally indicates sustained upward momentum and improving investor sentiment toward the stock.
• Momentum indicators are also supportive of the bullish outlook, indicating a potential upward move in the coming months.

Recommendation

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• Investors may consider accumulating the stock around ₹2,200 level and up to ₹2,160, where an important technical support level is placed.
• If the bullish momentum sustains, the stock has the potential to move toward ₹2,420 and ₹2,530 levels over the medium to long term, supported by the improving technical setup and sustained buying interest in the counter.