Bosch Elliottwave Short Term Update : CMP 20,600.
Yesterday 29 Nov 2017 we posted Bosch Elliottwave Count here, where we were awaiting confirmation via 5 waves up on the shorter time frames. Today that confirmation is in place, so probability that the downward correction of Bosch India from 25,000+ to 18,800 is complete. The low of 18,800 should hold for more than a while.
Both investors and traders can buy on dips or even at current levels, knowing full well the pattern gets invalidated or hasnt worked if price falls to below 18,800. One of the strengths of the wave principle is it points to a specific price at which one knows the trade hasnt worked or the count is wrong. Before entering a trade, this is the 1st thing to look for. Proper risk management allows us to continue playing the markets for a long time.
Analysis of yesterday’s post is important. Definitely read it before entering the trade.