Bosch is one of the top quality MNC stock that deserves an inclusion in most portfolios. After a minor downward correction in the past few weeks, the stock price action action suggets that the next leg of the uptrend is underway. A look at the below weekly chart suggests that the recent fall has pushed the stock closer to the key support zone at Rs.11,300-11,500.
Investors may buy the stock at the prevailing levels as well as on a fall to the above mentioned support zone. We expect the stock to rally to the next target of Rs.15,000-15,500. While this a very conservative target that we have in mind, let’s discuss much higher targets once the stock reaches this price zone.
We would abandon our positive view on the Bosch if the stock falls below the bearish trigger level of Rs.10,500. The stop-loss for long positions may be placed at Rs.10,400.
(The view featured here is based on Technical Analysis of historical stock price action. Please read the Disclaimer)
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