February 13, 2017
Siemens (NSE Cash)
BUY
` 1148
` 1190 - 1200
` 1290
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 15:05 IST)
Justification:
Looking at the monthly chart, one thing can be concluded that the stock has been maintaining its strong price chart
structure of ‘Higher Top Higher Bottom’ since last few years. Recently, we saw a good recovery after forming a base
around the 1040 mark. Last Monday, we witnessed a decisive breakout from the trend line resistance as well as the
‘200 day SMA’ level of `1190. Although, the stock has come off a bit after the immediate spurt post the breakout; it
has now retraced back to previous resistance, which is now likely to provide a decent support. Considering the higher
degree chart, we expect a resumption of recent uptrend quite soon. Thus, we advise traders buy this stock at current
levels to a decline up to `1190 for a target of `1290 over the next 14 to 21 sessions. The stop loss should be fixed at
`1148.
Sameet J Chavan
022-3935 7600 Extn: 6552
1
February 13, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
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