Siemens has target of Rs 730-735: Sukhani

Siemens has target of Rs 730-735, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Siemens has been a disappointment for one and half years now. After its buyback or whatever it was, it’s been a complete disaster. Recently it made a high of Rs 840 and then made a double-top. It went to Rs 840 again for the second time, did not succeed. That double-top will get confirmed if Siemens goes below Rs 735-730. That event hasn’t happened, but I suspect it will."
He further added, "At this point Siemens has been closing lower for two days after a brief rally. Markets probably did not like what it said. So an initial target is towards Rs 730-735 where support comes, but that also is going to be broken I would think."
"Tata Motors you want to keep on buying. Fortunately this time we have identified the DVR for two reasons, one is that it’s a relatively low cost and we have found that whenever the stock goes up DVR actually bounces better. So there is a little more bang for the buck there. You can spend the same money and get more returns. After three-four days of a consolidation Tata Motors is now looking up. It’s the perfect buy on dips trade. If we have to identify trade of the day that should be Tata Motors DVR."