It had broken descending triangle recently and now closed above the resistance of same pattern. Also it had broken down uptrend trend line support which is now invalid due to strong close above it.
This means this stock will continue its up trend with more power.
One can wait till end of this month (1 more week) for more confirmation.
I would buy it on retest...
bosch ltd chart looks good as it broke last swing high and retracing on support and if it able to sustain then it can give us 17000+, you also can look into chart things are very simple there, lots of resistance upside but RSI showing positive divergence. let's see..
please do your own study before taking any action, it's my personal trading record only.
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...
Three Bullish Harmonic Patterns in alignment in Monthly Time Frame
Gartley / Butterfly / AB=CD
Ichimoku study also suggests a pullback to Kumo around 18000
View goes wrong if it moves below 11600
TREND ANALYSIS
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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R:R is Awesome
Bosch Ltd. engages in the manufacture and market of automotive and non-automotive products. It operates through the Automotive Products and Others segments. The Automotive Products segment provides diesel and gasoline fuel injection systems, car multimedia systems, auto electrical and accessories, starters and generators, energy and body systems services. The Other segment consists of industrial technology, consumer goods, and building technology. The company was founded by Robert Bosch in November 12, 1951 and is headquartered in Bangalore, India.
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BOSCHLTD
