Siemens may see 5-7% decline: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that Siemens may see 5-7% decline from current levels

Bhambwani told CNBC-TV18, “Siemens is appearing like it is under pressure. It is likely to test its thirty week simple moving average. It is unlikely to go bullish unless and until you see it trade above Rs 600 levels with conviction, with very high volumes. Failing that I wouldn’t rule out another 5-7% decline from current levels.”