Bosch has been forming a symmetrical triangle since 03/2015 . According to me it is running the last E wave of that triangle . (Caveat the Two dark blue lines are the points if invalidation and tad above/below them should be used for stop loss depending upon the position taken as then the triangle will become invalid)
1. Wave C = 0.618 A in this triangle (not...
It is too early to predict, still there is hammer on support line so one can expect the change in direction.
One can buy above 23100 and can go long for 23200 & 23300. SL 23080.
Else can be shorted below 23080 for target 22850 SL - 23100.
Moving in an ascending channel . Long at 23235 tgt 24762 SL 22585
Disclaimer: I am a novice at charting and this chart is only for educational purpose. Views and opinions are welcome
NSE : BOSCH LTD closed @ 23,485 C&S pattern is marked on the charts and it is EMA 21 is trading very closely from recent past Bosch Ltd failed make higher highs in recent days near resistance lot rejections bar are seen in the charts, Traders can go short, Plan your position 2 times shorting @ Current market price, 2nd entry is when it breaks EMA21 and survives...
MARKET ANALYSIS: The pair has nearly reached the triangle resistance zone. If the resistance zone holds we can expect a downward moment towards the next possible support level of the triangle. Lets wait and see what the market does in the coming days, Cheers!
Bosch Ltd. is on the verge of a breakout.
RSI (14) has already broken out of falling Trend line.
Volumes are also above average.
Price seems to be heading to previous highs.
Target 1: 24000
Target 2: 25500
Stoploss: 22800
It may be continue in up move or may be reverse in down side , their is a ALT BAT BEARISH PATTERN and their is also an ASCENDING TRIANGLE ....high chance to continue in upside ...
