COLPAL chart study of 30-July-2020
COLPAL chart study of 30-July-2020

The study of COLPAL chart was difficult to analize and people generally loose their money while taking position in this particular type of chart. Stockmony team has explained how to deal with such chart patterns.

Overview

  1. About COLPAL
  2. Chart study
  3. Financials
  4. Future forecast
  5. BONUS POINT

About COLPAL

Colgate Palmolive (India) limited is mainly engaged in the business of personal care and oral care. Company provides various personal care products such as soap, cosmetics and toilet preparations. We all know about COLGATE. It’s from childhood when we started using this product.
Its dental hygiene product COLGATE is the main brand.

Chart Study

COLPAL chart study

The chart which we see above is very confusing. We should never take BUY or SELL position in this chart. Generally a chart has a support and a resistance.

But this particular chart is in a condition where it is better not to take any position. The best thing we can do is to wait for the breakout in the uptrend. Until then it can be very risky.

In the chart above we can see that in past 5 days the candle tried to break the UPTREND 3 times but failed.

Hopefully tomorrow it will break the resistance and we can easily take position after confirmation.

Financials and Forecast

COLPAL seems to be fundamentally very strong. Year by year its NET Profit is increasing. Every FY we can see a gap up of at-least 100 crore as the NET Profit. But currently it is not advisable to invest in this stock. It is only good to make money in Intraday for this stock.

Talking about forecast, StockMony team analised that the current prise is more than the intrinsic value, which is not al all good. Rest everything seems ok.

COLPAL also offer good dividend returns. Also the stock has given better return in equity.

Bonus Point

Learning from the chart patterns can make you gain knowledge, but money can be earned only by trading.

I firmly believe that trading can make you earn good money. Here, I present you my telegram channel, where I will be sharing more knowledge during live market hours. My goal is to make people happy and rich.

https://t.me/stockmony

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