Sell Colgate Palmolive, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Colgate Palmolive was a sell earlier also because it has completed its bull market. It has done wonderful things. It has already embarked on a bear market, it's not just a downtrend and that is going to happen to the pharmaceutical companies as well as fast moving consumer goods (FMCG) stocks almost everywhere."

"Colgate is coming down, it is going to go lower. It is going to complete its downtrend, which is much lower than where we are now. For today it is a short sell, carry it for the next couple of days also and do not worry about F&O expiry," Sukhani said.

At 09:45 hrs Colgate Palmolive (India) was quoting at Rs 1,279.35, up Rs 18.90, or 1.50 percent. It has touched an intraday high of Rs 1,282.00 and an intraday low of Rs 1,256.60.

The share touched its 52-week high Rs 1,580.40 and 52-week low Rs 1,133.40 on 01 January, 2013 and 26 June, 2012, respectively. Currently, it is trading 19.05 percent below its 52-week high and 12.88 percent above its 52-week low. Market capitalisation stands at Rs 17,398.24 crore.

Also Read: Colgate downgraded to 'sell' by Antique post Q4 earnings

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