BOSCHLTD
Break out from flag pattern in Bosch LtdThere is a strong breakout from flag pattern on daily charts today. Volumes of 2X can be seen on the breakout.
One more thing to watch out is that today price has crossed 50DEMA and shall be closing above the DEMA .
Try to enter between 12300-12400 for targets of 13100/13350/13700. SL will be low of the breakout candle on hourly chart i.e. 12100
Risk/Reward: 2.3/3.1/4.3
Enter only if price comes to the above range of 12300-12400. CMP 12540
Bosch Ltd : BuyBuy 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 time frame of 15-22 trading sessions. It has to still broke out above falling trendline to signal change in short term trend.
If it moves to 16000 before touching buying zone then this view will be negated.