kodisumanth
Long

A possbile short term uptrend in Colgate Palmolive

NSE:COLPAL   COLGATE-PALM (IND)
After forming an ascending wedge pattern for 2 months, the stock seems to break downwards. But if we closely observe the 1 min chart of past 4 days which forms a descending channel pattern, the last day seems to come out of the channel and form a hammer . This could mean a pull back from the break down and possible short term uptrend. Alternately the overall one day pattern can also be seen as ascending channel and a possible breakdown at later point of time.

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