Colgate Palmolive may test Rs 2100, says Kunal Bothra

Kunal Bothra of LKP Securities is of the view that Colgate Palmolive may test Rs 2100.

Kunal Bothra of LKP Securities told CNBC-TV18, " Colgate Palmolive is forming a bullish pennant formation on the weekly charts. It is just about making a fresh weekly high. So probably if it closes above Rs 1960 for the week it confirms the breakout. It is a good sign if it breaks above Rs 1960 and I believe from a short to medium-term perspective traders could look at a target of at least Rs 2100 keeping a stop loss of Rs 1880 in it."

At 14:09 hrs Colgate Palmolive (India) was quoting at Rs 1,949.50, down Rs 24.20, or 1.23 percent. It has touched an intraday high of Rs 1,978.35 and an intraday low of Rs 1,948.50.

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