SIEMENS LTD
- As per previous report published by us on SIEMENS LTD , stock failed to give bearish breakout last time and bounce back from this support. (Click here to see past report published by us on SIEMENS LTD).
- SIEMENS LTD has now formed descending triangle formation in daily chart, this indicates once stock comes out from its formation on down side then sharp weakness is expecting.
- Daily chart also indicates that stock is coming down from its 50% fibonacci retracement resistance @ 928, as long as stock trades below it will be favored by bears.
- Suggested Reading - AMBUJA CEMENTS on the verge of bearish breakout as stock trading below 50 DMA.
- Now as per graph no 3. stock is now trading below its fibonacci fan final line support this indicates weakness, but price got stuck on its trend line support zone, Close Watch once stock closes and stays below 842.50 then stock looking weak for next 1-2 trading days.
- Intraday close watch once stock starts trading below 842.50, if stays below 842.50 with volumes then stock will be dominated by bears in day trading.
- Click here to see all the free trading reports (tips) published by us on SIEMENS LTD.
- Free tips on share market.
No comments:
Post a Comment