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    HomeNewsBusinessMarketsSell Siemens January futures, target Rs 980: Jayant Manglik

    Sell Siemens January futures, target Rs 980: Jayant Manglik

    After spending nearly a month in consolidation, it has formed a fresh shorting pivot and likely to see a fresh decline.

    Moneycontrol Contributor
    January 23, 2019 / 12:05 IST
       
       
      26 Aug, 2025 12:21
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      Jayant Manglik

      Siemens: Sell January Futures |Target: Rs 980 | Stop loss: Rs 1080| Return 6.2 %

      Siemens has been trading with a corrective bias for almost five months after retesting its record high. It has recently witnessed a rebound but couldn’t surpass the resistance hurdle of long term moving average i.e. 200 EMA on the weekly chart.

      After spending nearly a month in consolidation, it has formed a fresh shorting pivot and likely to see a fresh decline. We advise creating fresh shorts in the given range Rs 1045-1055. It closed at Rs 1037.45 on January 21, 2019.

      (The author is President, Religare Broking Ltd)

      Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

      Moneycontrol Contributor
      Moneycontrol Contributor
      first published: Jan 23, 2019 12:05 pm

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