Stock picks by Nilesh Jain of Anand Rathi: Buy IGL, Colgate Palmolive

The stock of Colgate Palmolive has surpassed the upper band of the Bollinger band which hints of a fresh up move in the counter

BUY IGL | TARGET: Rs 535 | STOP LOSS: Rs 480

The stock has provided a golden crossover on the daily chart where a 50-DMA surpassed its 200-DMA hinting at a fresh momentum in the counter. On the weekly scale, meanwhile, it is hovering near its 200-weekly moving average placed at 501 levels and breakout from the same will be confirmed on the higher side. The momentum indicators and oscillators are in the buy mode on the weekly scales which also supports the positive momentum.

BUY COLPAL | TARGET: Rs 1,700 | STOP LOSS: Rs 1,570

The stock is in a secular uptrend