BOSCH HOLD BOSCH WITH A STRICT STOP LOSS OF RS 21200
I have bought shares of Bosch at Rs 22,000. Should I hold or exit? - Gaurang Chauhan
Bosch is currently trading at Rs 21672. Its 52-week high/low stand at Rs 25245.20/Rs 18005 made on June 19, 2017 and November 22, 2016 respectively. Considering the weekly time frame, the stock failed to break its downward sloping trendline level of Rs 25000 on a closing basis and witnessed fall for consecutive two weeks thereafter. The fall was witnessed by huge volumes and the 14-period RSI falling from 61. The stock has made a symmetric triangle pattern on weekly chart, which has support at Rs 21270 level. In case the stock bounces back from CMP or downside of Rs 21270, then it may make another upside rally. Hence, we suggest you to hold the stock with a stop loss of Rs 21200.