October 06, 2016
Bosch Ltd (NSE Cash)
` 22590
` 23350 - 23400
` 24775
14 - 21 Sessions
Daily Chart
Source: Falcon (Chart Time: 10:30 IST)
The stock is moving in an uptrend by maintaining ‘Higher Highs Higher Lows’ on weekly chart. In last few
weeks, the stock has seen a decent corrective move and has been forming a strong base around daily ’89
EMA’ placed at 23000. At the same time, the stock has rebounded from its support of previous high on daily
chart, which coincides with the Potential Reversal Zone of a bullish harmonic pattern called ‘Bullish AB=CD’ on
daily chart. The ‘RSI - smoothened’ oscillator has also turned northwards on daily chart, indicating a possibility
of a reversal. Considering above technical evidences, we are expecting resumption of a higher degree uptrend
in the counter. Thus, traders are advised to buy the stock at current levels and on declines up to `23350 for a
target of `24775 in next 14 - 21 sessions. The stop loss for the trade set-up can be kept at `22590.
October 06, 2016
Last 4 recommendations
Recom. Buying/Selling Range CMP
Target 1
Target 2
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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