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

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

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.

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