Published on 6/07/2020 3:19:13 PM | Source: Motilal Oswal Financial Services Ltd
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Siemens
* Consolidation phase of last three months has resulted into formation of a Symmetrical Triangle pattern on daily chart
* We witnessed a pattern breakout with noticeable volumes, which is a positive sign for the stock
* Momentum oscillator RSI is placed positively on both daily and weekly scale
* Looking at above technical evidences, we expect the stock to move towards 1300 mark
* Hence, traders are advised to buy the stock in the range of 1130 - 1150 zones with stop-loss of 1080 levels
Buy Siemens Ltd @ 1130 – 1150 CMP 1149 Target 1300 SL 1080
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