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May 30, 2012, 09.57 AM IST
Sudarshan Sukhani of s2analytics.com is of the view that one can see lower levels in Siemens.
Sudarshan Sukhani of s2analytics.com is of the view that one can see lower levels in Siemens .
Sukhani told CNBC-TV18, "Siemens hasn’t done anything. A very small rally was primarily a bear flag and immediately a target of Rs 665 is possible in a couple of days or today. But that is not going to be the end of the decline. Siemens is probably looking at lower levels. It’s a poor chart."
He further added, " Petronet LNG is a disappointment. It was always a favourite and made a lot of money on the long side. Now it doesn’t hold. It just keeps on breaking support levels and that is not good news. The rallies we saw when the Nifty was moving up, even now have not come to Petronet. So apparently Petronet is looking for a target of Rs 124-120 and maybe even lower. There is some kind of a mini bear market going on in Petronet LNG."
Disclosure: I have no personal holding in the above stocks.
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