Note: This is for educational purpose only.
After breakout of BOSCH, there was a consolidation phase. There is a bullish inverted hammer on resistance turned support. Moreover, this is supported by good volume along with RSI above 60 which further indicates bullish momentum.
Buy Bosch Ltd below 14900 stop loss 14200 (hourly closing) target 16300-16600
It is trading in perfect downward sloping parallel channel. 26 week RSI has shown upside cross over. Daily RSI and MACD are showing positive momentum to continue for some more time. Logg scale resistance of falling trend line is at 16200-16400.
We are bullish only for very short term...
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
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