February 08, 2016
Siemens (NSE Cash)
BUY
` 990
` 1044 - 1038
` 1140
14 - 21 sessions
Weekly Chart
Source: Falcon (Chart Time: 11:10 IST)
Justification:
This stock has undergone a healthy price correction over the past six months and in the process, it has tested
its July 2014 high of `994. This support zone coincides with the lower end of the ‘Falling wedge’ pattern on
weekly chart, which also can be termed as a ‘Wolfe Wave’ as we can clearly observe a ‘Five-Points’ structure as
per the requirement. In addition, the daily ‘RSI-Smoothened’ oscillator is positively poised along with the
‘Parabolic SAR’ indicator, which has turned in a ‘Buy Mode’ few days back. Thus, we advise traders to buy
this stock from current level to a decline to ` 1038 for a target of ` 1140 in coming 14 to 21 trading
sessions. The stop loss for this trade set up can be kept at ` 990.
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February 08, 2016
Last 8 recommendations
Date
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Target 1
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370
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689
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197
206
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03-02-16
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BUY
297 - 295
311
325
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282
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01-02-16
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SELL
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2389
2235
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2502
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195 - 194
199
214
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411
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373
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Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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