Sell Colgate Palmolive as small correction is on cards: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on various stocks.

ET Now: What is your call on Colgate Palmolive?

Mitesh Thacker: Sell Colgate Palmolive. After a long time, I have got a sell on a FMCG stock. Yesterday’s movement on Colgate was quite negative in the sense that it also resulted in breaking the daily trend line.

Small correction is definitely on the cards till about price levels of 950 which is the 200-day moving average. If it breaks that, we might see a much deeper correction happening. So, sell on Colgate with a stop at about Rs 1000.