SENSEX NIFTY
Nov 27, 2012, 12.26 PM IST | Source: Moneycontrol.com

Buy Siemens; target of Rs 700: IIFL

IIFL is bullish on Siemens and has recommended buy rating on the stock with a target of Rs 700 in its November 27, 2012 research report.

IIFL is bullish on Siemens and has recommended buy rating on the stock with a target of Rs 700 in its November 27, 2012 research report.

“Siemens has confirmed trend reversal near long term rising support line with formation of ‘Morning star’ pattern on candlestick. Such trend reversal indication has come after more than 10% correction from intermediate peak of Rs755. The RSI has managed to show a turnaround from oversold zone of 35 and which suggest that even short term pullback could take stock towards the levels of Rs720. (Duration 10 days),” says IIFL research report.

Public holding more than 90% in Indian cos

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READ MORE ON  Siemens, IIFL, Recommendation
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