Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Siemens has given technical breakout on daily timeframe and at a retest level, so possibly it will move to the target of 3600+.
Target 3600
Stop loss 3075
Siemens- It has formed Butterfly Pattern. we could see it can move upwards 3090 to 3150 Range. After reaching the target it will start to fall.
Disc- Please do your own research and this is only for learning purpose & not trading recommendation
NSE:SIEMENS
One Can Enter Now ! Or Wait for Retest of the Trendline (BO).
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
We were looking for a 5 wave completion (from 2250 ) in Siemens - see prior analysis. Stock went up to 3140 most likely completing a 5 waver and has since corrected down to today's low of 2890. 2880 or so is major support on siemens. Risk reward on near term shorts is not great I would think. Would expect a bounce before we get a good risk reward opportunity to...
Had mentioned in earlier analysis of siemens that a 5 waver is done here. Details below
Siemens has either completed 5 waves in its move from 2250 or late stage 5th. Hence the long exit/ sell
on weekly too it is likely completing a much larger timeframe 5 waves if my counts are correct
Siemens has rallied towards the upper end of its trading range despite declaring poor results that saw downgrades
The last move also looks like a 5 wave structure done. Longs should use this rally to exit. Aggressive traders may try shorts
