Stock of the day: Buy Siemens Ltd For Target Rs.3050 By Religare Broking
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Siemens Ltd
* SIEMENS has been witnessing consolidation within the 2700-3050 zone for the last four months.
* It has rebounded swiftly of late after retesting the support zone of medium term moving averages i.e.100 EMA on the daily chart.
* Indications are in the favor of prevailing tone to continue and it can retest the upper band of the consolidation range soon or even surpass the same.·
* We thus suggest initiating fresh longs.
Buy Siemens Ltd CMP: 2965.70 Range: 2940-2950 SL: 2890 Target: 3050
Technical Chart : Daily
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