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Siemens Ltd.
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Siemens Ltd.

  • 1,622.20-49.25 (-2.95%)
  • Closed
  • As On: 27 Jan, 2021, 03:56 PM IST
  • Open1,671.40
  • High1,671.40
  • Low1,607.55
  • Prev Close1,671.45
  • Volume3,27,718
  • VWAP(₹)1,633.42
  • Intraday fact check

    In last 15 years, 46.4% of trading sessions had closing price higher than open price.
  • Quarterly Topline Performance

    Company witnessed QoQ revenue growth of 155.43%, which is highest in the last 3 years. (Source: Standalone Financials)
  • Sell Signal: Bears back on track

    20 day moving crossover appeared yesterday. Average price decline of -2.88% within 7 days of this signal in last 5 years.
  • Stock Returns vs Nifty 100

    Stock gave a 3 year return of 25.16% as compared to Nifty 100 which gave a return of 25.22%. (as of last trading session)

Found Insights useful?

Key Metrics

  • PE Ratio(x)75.05
  • EPS - TTM(₹)21.62
  • MCap(₹ Cr.)57,999.53
  • MCap Rank1
  • PB Ratio(x)6.58
  • Div Yield(%)0.43
  • Face Value(₹)2.00
  • 52W High(₹)1,732.85
  • 52W Low(₹)947.90
  • MCap/Sales3.92
  • Beta(1 Month)1.74
  • BV/Share(₹)254.11

Returns

  • 1 Day-2.95%
  • 1 Month4.61%
  • 3 Months28.08%
  • 1 Year4.18%
  • 3 Years25.16%
  • 5 Years60.61%

Financials

    • Quarterly Topline Performance

      Company witnessed QoQ revenue growth of 155.43%, which is highest in the last 3 years. (Source: Standalone Financials)
    Sep 2020Jun 2020Mar 2020Dec 2019Sep 2019
    Total Income3,609.301,417.902,919.902,771.904,290.10
    Total Income Growth (%)154.55-51.445.34-35.3930.00
    Total Expenses3,154.301,413.702,671.702,406.803,793.70
    Total Expenses Growth (%)123.12-47.0911.01-36.5630.28
    EBIT455.004.20248.20365.10496.40
    EBIT Growth (%)0.00-98.31-32.02-26.4527.94
    PAT330.20-1.90175.70265.80333.90
    PAT Growth (%)--101.08-33.90-20.4033.51
    EBIT Margin (%)12.610.308.5013.1711.57
    Net Profit Margin (%)9.15-0.136.029.597.78
    Basic EPS (₹)9.28-0.054.947.469.38
    Sep 2020Jun 2020Mar 2020Dec 2019Sep 2019
    Total Income3,580.401,401.702,900.702,754.104,270.20
    Total Income Growth (%)155.43-51.685.32-35.5030.15
    Total Expenses3,129.101,401.302,657.302,393.203,779.00
    Total Expenses Growth (%)123.30-47.2711.04-36.6730.49
    EBIT451.300.40243.40360.90491.20
    EBIT Growth (%)0.01-99.84-32.56-26.5327.58
    PAT327.60-4.60172.10262.70330.60
    PAT Growth (%)--102.67-34.49-20.5433.25
    EBIT Margin (%)12.600.038.3913.1011.50
    Net Profit Margin (%)9.15-0.335.939.547.74
    Basic EPS (₹)9.20-0.134.837.389.28
    FY 2019FY 2018FY 2017FY 2016FY 2015
    Total Revenue14,166.2013,075.4011,317.9010,999.4010,723.10
    Total Revenue Growth (%)8.3415.532.902.58-0.55
    Total Expenses12,506.8011,673.9010,216.4010,108.309,818.40
    Total Expenses Growth (%)7.1314.271.072.95-4.87
    Profit after Tax (PAT)1,099.40901.201,136.702,873.701,174.40
    PAT Growth (%)21.99-20.72-60.44144.7094.69
    Operating Profit Margin (%)12.1311.0110.028.298.65
    Net Profit Margin (%)7.987.0410.2726.5211.11
    Basic EPS (₹)30.8725.3131.9380.6932.98
    FY 2019FY 2018FY 2017FY 2016FY 2015
    Total Revenue14,078.4013,005.1011,269.5010,972.8010,672.80
    Total Revenue Growth (%)8.2515.402.702.81-0.87
    Total Expenses12,436.8011,613.9010,167.9010,068.009,759.20
    Total Expenses Growth (%)7.0914.220.993.16-5.30
    Profit after Tax (PAT)1,086.90893.901,133.602,888.001,183.30
    PAT Growth (%)21.59-21.15-60.75144.0696.17
    Operating Profit Margin (%)12.0710.9910.078.428.76
    Net Profit Margin (%)7.947.0210.2926.7111.25
    Basic EPS (₹)30.5225.1031.8481.1033.23

    All figures in Rs Cr, unless mentioned otherwise

  • AnnualFY 2019FY 2018FY 2017FY 2016FY 2015
    Total Assets15,358.3014,336.3013,138.2011,767.0010,576.20
    Total Assets Growth (%)7.139.1211.6511.262.78
    Total Liabilities6,308.906,037.405,447.605,208.305,458.50
    Total Liabilities Growth (%)4.5010.834.59-4.58-7.71
    Total Equity9,049.408,298.907,690.606,558.705,117.70
    Total Equity Growth (%)9.047.9117.2628.1616.96
    Current Ratio (x)2.101.941.981.851.53
    Total Debt to Equity (x)0.000.000.000.000.00
    Contingent Liabilities1,400.201,628.601,607.701,310.301,008.00
    AnnualFY 2019FY 2018FY 2017FY 2016FY 2015
    Total Assets15,210.4014,249.2013,123.1011,741.5010,527.70
    Total Assets Growth (%)6.758.5811.7711.532.62
    Total Liabilities6,166.805,943.805,418.405,159.605,401.10
    Total Liabilities Growth (%)3.759.705.02-4.47-8.19
    Total Equity9,043.608,305.407,704.706,581.905,126.60
    Total Equity Growth (%)8.897.8017.0628.3917.16
    Current Ratio (x)2.121.951.991.851.54
    Total Debt to Equity (x)0.000.000.000.000.00
    Contingent Liabilities1,399.301,627.701,606.801,309.80997.60

    All figures in Rs Cr, unless mentioned otherwise

  • AnnualFY 2019FY 2018FY 2017FY 2016FY 2015
    Net Cash flow from Operating Activities1,291.7099.80573.40512.80576.80
    Net Cash used in Investing Activities-1,152.80-174.601,322.40237.30644.80
    Net Cash flow from Financing Activities-311.60-305.30-285.20-1,614.30-247.20
    Net Cash Flow-173.80-379.301,610.60-864.10975.10
    Closing Cash & Cash Equivalent712.50886.302,837.701,228.102,096.10
    Closing Cash & Cash Equivalent Growth (%)-19.61-68.77131.06-41.4186.98
    Total Debt/ CFO (x)0.000.000.000.050.04
    AnnualFY 2019FY 2018FY 2017FY 2016FY 2015
    Net Cash flow from Operating Activities1,230.5042.20553.80508.20620.40
    Net Cash used in Investing Activities-1,051.20-157.201,314.10239.60624.10
    Net Cash flow from Financing Activities-311.30-305.40-259.80-1,612.10-270.30
    Net Cash Flow-133.10-419.601,608.10-864.20974.90
    Closing Cash & Cash Equivalent710.10843.202,834.901,227.802,095.90
    Closing Cash & Cash Equivalent Growth (%)-15.79-70.26130.89-41.4286.97
    Total Debt/ CFO (x)0.000.000.000.000.00

    All figures in Rs Cr, unless mentioned otherwise

  • AnnualFY 2019FY 2018FY 2017FY 2016FY 2015
    Return on Equity (%)12.1410.8514.7843.8122.94
    Return on Capital Employed (%)17.8516.4413.9413.1916.64
    Return on Assets (%)7.156.288.6524.4211.10
    Interest Coverage Ratio (x)142.83171.91140.43113.8097.24
    Asset Turnover Ratio (x)89.6489.2584.2192.0899.87
    Price to Earnings (x)49.2637.3137.5915.3840.16
    Price to Book (x)5.964.045.556.739.21
    EV/EBITDA (x)25.9018.5529.5435.8839.59
    EBITDA Margin (%)13.7212.5611.8110.4610.76
    AnnualFY 2019FY 2018FY 2017FY 2016FY 2015
    Return on Equity (%)12.0110.7614.7143.8723.08
    Return on Capital Employed (%)17.6716.3013.9213.3216.74
    Return on Assets (%)7.146.278.6324.5911.23
    Interest Coverage Ratio (x)145.00170.66144.06154.36126.15
    Asset Turnover Ratio (x)89.9689.3083.9392.0599.85
    Price to Earnings (x)49.7537.5937.7415.3139.84
    Price to Book (x)5.964.045.546.719.19
    EV/EBITDA (x)26.2218.7129.5735.7539.61
    EBITDA Margin (%)13.6612.5411.8510.5210.81

Found Financials useful?

Technicals

  • 5 Day EMA Crossover

    Bearish signal on daily chart

    Appeared on: 27 Jan 2021

    5D EMA: 1651.62

    Last Signal 15 Jan 2021 (Loss -2.19%)

    Average price decline of -2.54% within 7 days of Bearish signal in last 5 years

    10 Day EMA Crossover

    Bearish signal on daily chart

    Appeared on: 27 Jan 2021

    10D EMA: 1649.76

    Last Signal 15 Jan 2021 (Loss -2.19%)

    Average price decline of -2.64% within 7 days of Bearish signal in last 5 years

    14 Day EMA Crossover

    Bearish signal on daily chart

    Appeared on: 27 Jan 2021

    14D EMA: 1642.80

    Last Signal 21 Dec 2020 (Loss -2.39%)

    Average price decline of -2.76% within 7 days of Bearish signal in last 5 years

    20 Day EMA Crossover

    Bearish signal on daily chart

    Appeared on: 27 Jan 2021

    20D EMA: 1629.30

    Last Signal 21 Dec 2020 (Loss -2.39%)

    Average price decline of -2.88% within 7 days of Bearish signal in last 5 years

    Stochastic Crossover

    Bearish signal on weekly chart

    Appeared on: 22 Jan 2021

    Region: Overbought (Above 80)

    Last Signal 11 Dec 2020 (Loss -6.16%)

    Average price decline of -7.06% within 7 weeks of Bearish signal in last 10 years

  • 46%
    Positive Movement
    since 1st Jan 2005
    on basis
    53%
    Negative Movement
    since 1st Jan 2005
    on basis
    Exclude

    Global Meltdown1st Jan 2008 to 10th Nov 2008

    Covid Crisis1st Feb 2020 to 31st Mar 2020

  • R11659.88Pivot

    1633.72

    S11596.03
    R21697.57S21569.87
    R31761.42S31506.02
  • 5 Days14 Days28 Days
    57.4948.7844.79

Found Technicals useful?

Peers

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 25.16% as compared to Nifty 100 which gave a return of 25.22%. (as of last trading session)
    • Stock Returns vs S&P BSE Capital Goods

      Stock generated 25.16% return as compared to S&P BSE Capital Goods which gave investors -3.24% return over 3 year time period. (as of last trading session)
    • CHART
    • TABLE
    • 1D
    • 1W
    • 1M
    • 3M
    • 6M
    • 1Y
    • 5Y
    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 25.16% as compared to Nifty 100 which gave a return of 25.22%. (as of last trading session)
    • Stock Returns vs S&P BSE Capital Goods

      Stock generated 25.16% return as compared to S&P BSE Capital Goods which gave investors -3.24% return over 3 year time period. (as of last trading session)
    NAMEP/E (x)P/B (x)ROE %ROCE %ROA %Rev CAGR [3Yr]OPMNPMBasic EPSCurrent RatioTotal Debt/ Equity (x)Total Debt/ CFO (x)
    Siemens75.056.3812.1417.857.158.7112.137.9830.872.100.000.00
    Honeywell Auto73.4415.5822.5630.3014.2111.3121.0714.93555.882.530.000.00
    ABB India146.918.368.6114.963.93-5.217.314.1414.321.550.000.01
    Thermax81.903.797.0112.293.568.166.793.7018.871.430.070.65
    Triveni Turbine29.455.1422.9627.3814.812.4518.3613.773.771.960.000.01
    Add More
    Annual Ratios (%)

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      Found Peer Comparison useful?

      Shareholding Patterns

      • Category31 Dec 202030 Sep 202030 Jun 202031 Mar 2020
        Promoters75.0075.0075.0075.00
        Pledge0.000.000.000.00
        FII4.224.074.164.21
        DII10.5710.4410.1210.22
        Mutual Funds1.641.852.953.68
        Others10.2110.4910.7210.57
      • CategoryNo. of SharesPercentage% Change QoQ
        Promoters26,70,89,91375.00 %0.00
        Pledge00.00 %0.00
        FII1,50,33,2794.22 %0.15
        DII3,76,17,97510.57 %0.13
        MF58,27,4271.64 %-0.21
        Others3,63,79,08810.21 %-0.28

      Mutual Funds Ownership

      MF Ownership as on 31 December 2020

      Futures & Options

        • Expiry Month
        DatePrice

        27-09-2020Current

        1,630.35-44.20 (-2.64%)

        1,668.85
        Open
        1,670.70
        High
        1,615.05
        Low
        1,674.55
        Prev Close
        1,136
        Contracts Traded
        10,263.19
        Turnover (₹ Lakhs)
        • Type
        • Expiry Month
        • Strike Price
        DatePrice

        27-09-2020Current

        0.00-526.90 (-100.00%)

        0.00
        Open
        0.00
        High
        0.00
        Low
        526.90
        Close
        0
        Contracts Traded
        0.00
        Turnover (₹ Lakhs)

      Corporate Actions

      • Final

        350%

        Nov 25, 2020

        Board Meeting

        Audited Results & Final Dividend

        Nov 18, 2020

        Board Meeting

        Quarterly Results

        Jul 31, 2020

      • Announced onMeeting on
        Nov 18, 2020Nov 25, 2020
        Audited Results & Final Dividend
        Jul 31, 2020Aug 07, 2020
        Quarterly Results
        May 06, 2020May 13, 2020
        Quarterly Results
        Feb 04, 2020Feb 11, 2020
        Quarterly Results
        Nov 13, 2019Nov 19, 2019
        Audited Results & Dividend
      • Announced onEx-DateDividend%
        Nov 19, 2019Feb 03, 2020350%
        Nov 19, 2018Jan 28, 2019350%
        Nov 25, 2020-350%
        Nov 19, 2019-350%
        Jan 05, 2018-0%
      • Announced onEx-Date
        Nov 22, 2007Feb 29, 2008
        Bonus Ratio: 1 share(s) for every 1 shares held
        Aug 22, 1987-
        Bonus Ratio: 1 share(s) for every 4 shares held
        Aug 22, 1982-
        Bonus Ratio: 1 share(s) for every 2 shares held
        Aug 22, 1977-
        Bonus Ratio: 1 share(s) for every 2 shares held
        Aug 22, 1975-
        Bonus Ratio: 1 share(s) for every 1 shares held
      • Announced onEx-Date
        Jan 27, 2006Jun 13, 2006
        Split: Old FV10.0| New FV:2.0
      • Announced onEx-Date
        Aug 03, 1999Aug 18, 1999
        Rights ratio: 1 share for every 4 held at a price of Rs 200.0
        Sep 30, 1993Mar 29, 1993
        Rights ratio: 1 share for every 3 held at a price of Rs 135.0
      • Announced onMeeting on
        Jan 09, 2020Feb 11, 2020
        Book closure from Feb 5, 2020 to Feb 11, 2020
        Jan 07, 2019Feb 06, 2019
        Book closure from Jan 30, 2019 to Feb 6, 2019
        Jan 05, 2018Feb 06, 2018
        Book closure from Jan 30, 2018 to Feb 6, 2018
        Jan 09, 2017Feb 08, 2017
        Book closure from Feb 2, 2017 to Feb 8, 2017
        Mar 22, 2016Apr 29, 2016
        -

      About

      Siemens Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 57769.83 Crore) operating in Engineering sector.

      Siemens Ltd. key Products/Revenue Segments include Engineering Goods which contributed Rs 7528.40 Crore to Sales Value (55.01 % of Total Sales), Income from Project Development which contributed Rs 4209.30 Crore to Sales Value (30.76 % of Total Sales), Sale of services which contributed Rs 1566.50 Crore to Sales Value (11.44 % of Total Sales), Other Operating Revenue which contributed Rs 199.70 Crore to Sales Value (1.45 % of Total Sales), Export Incentives which contributed Rs 112.60 Crore to Sales Value (0.82 % of Total Sales), Rental Income which contributed Rs 48.40 Crore to Sales Value (0.35 % of Total Sales) and Commission which contributed Rs 18.90 Crore to Sales Value (0.13 % of Total Sales)for the year ending 30-Sep-2019.

      For the quarter ended 30-09-2020, the company has reported a Consolidated sales of Rs 3546.80 Crore, up 177.96 % from last quarter Sales of Rs 1276.00 Crore and down -12.14 % from last year same quarter Sales of Rs 4037.00 Crore Company has reported net profit after tax of Rs 330.20 Crore in latest quarter.

      The company’s top management includes Mr.Cedrik Neike, Ms.Anjali Bansal, Mr.Yezdi H Malegam, Mr.Sunil Mathur, Mr.Mehernosh B Kapadia, Mr.Johannes Apitzsch, Mr.Joe Kaeser, Mr.Deepak S Parekh, Mr.Daniel Spindler, Ms.Mariel von Schumann. Company has B S R & Co. LLP as its auditors. As on 31-12-2020, the company has a total of 356,120,255 shares outstanding.

      About Siemens

      Siemens Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 57769.83 Crore) operating in Engineering sector. Show More

      Key Indices Listed On

      Nifty Next 50, Nifty 100, Nifty 200, Nifty 500, S&P BSE 500

      Address

      Birla Aurora, Level 21,Plot No. 1080,Dr. Annie Besant Road,Mumbai, Maharashtra - 400030

      Executive Leadership

      AB

      Anjali Bansal

      Independent Director
      BM

      Bhaskar Mandal

      Head
      CN

      Cedrik Neike

      Special Director
      DS

      Daniel Spindler

      Executive Director & CFO
      Show More

      Auditors

      B S R & Co. LLP

      Siemens Share Price Update

      Siemens Ltd. share price moved down by -2.95% from its previous close of Rs 1,671.45. Siemens Ltd. stock last traded price is 1,622.20

      Share PriceValue
      Today/Current/Last1,622.20
      Previous Day1,671.45

      DATA SOURCES: TickerPlant (for live BSE/NSE quotes service) and Dion Global Solutions Ltd. (for corporate data, historical price & volume, F&O data). Sensex & BSE Quotes and Nifty & NSE Quotes are real-time and licensed from BSE and NSE respectively. All timestamps are reflected in IST (Indian Standard Time).

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      Markets Data

      *

      Key Metrics

      • This is a ratio arrived at by dividing the current market price of a stock by its latest (annual or annualized) earnings per share. Here we have taken the TTM (trailing twelve months) adjusted earnings per share.

      • Earnings per share (TTM) tells the profit after tax earned on a per share basis by a stock over the last twelve months or four quarters.

      • MCap or Market capitalization of a stock is calculated by multiplying the total number of shares outstanding of that particular stock with its current market price.

      • This is the ranking of a company within its sector based on MCap or Market capitalization. Higher the market capitalization of a company, higher the rank it is assigned.

      • Price to Book represents the ratio of current market price of a stock to its book value per share. The book value itself is arrived at by dividing the net worth of a company by the total number of shares outstanding of the company at that time.

      • Dividend Yield calculates the amount of full year dividend declared by a company as a percentage of the current market price of a stock. All other things being equal, higher the dividend yield of the stock, the better it is for investors.

      • Face value of a stock is the value ascribed to the stock as per the balance sheet of the company. The dividend declared by a company is usually declared as a percentage of face value.

      • Beta (β) is a measure of systematic risk. It describes the responsiveness of a stock to fluctuations in the market. Beta coefficient of more than 1 denotes that a security is more volatile than its benchmark and less than 0 signifies that security return is not correlated to market movement.

      • Volume Weighted Average Price represents the average price of a security over a particular time period (example one trading day) weighted by the volume traded at each price point.

      • This represents the 52 week high and low price of the security. It is also the 1 year high and low of the security. This represents the highest and lowest price touched by the security during the past 52 weeks or 1 year including today.

      • Book value represents the value arrived at by subtracting the total liabilities from the total assets of the company. On dividing this value with the total number of shares outstanding for the company, we can arrive at book value per share. Book value is also known as Net Asset Value of a company.

      • This is a ratio of market capitalisation of a company’s stock to its annual sales. The market capitalization here is taken for the fully paid-up equity share of the company.

      Technicals

      • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

        Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

      • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

        Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

      • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

        Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

      • Pivot points are indicative support and resistance levels which are calculated on basis of previous day’s high, low and closing prices. Pivot level for Monday’s trade would be based on Friday’s prices and Monday’s, high, low and close price would go into calculation of pivot levels for Tuesday’s trading session.

        There are two underlying assumptions in pivot points. First, the specific price level indicated by R1, R2 and R3 may act as a barrier or resistance in an uptrend. So, if a stock moves up above these pivots levels, the uptrend gets confirmed. Second these specific price levels may see an increased activity, hence may be used as levels to book profit by traders with a long positions. For traders with short position, these points are often helpful in determining what should be the stop loss for a trade.

        Similarly, in case of support levels as indicated by S1, S2 and S3, they may act as price level where a stock might get a breather when it is slipping southward. In case these supports levels are broken it is a confirmation of a down trend. The stock may also see increased activity close to pivot levels. They may be used by trader may use them to put stop loss for a long trade. If a trader has short position, the pivot level may help in determine a level, where profit may be booked.

        Like any other technical indicator, pivots levels cannot and should not be used as single factor while taking a trading decision. They should be combined with other technical indicators. It could be short term moving averages, stochastic, moving average convergence divergence (MACD) or overbought level as indicated by relative strength index (RSI). For example, if a breakdown of support level (S1, S2 or S3) is accompanied with stock price also moving below its short term moving average or stochastic on daily charts giving a sell signal, it would add to weightage to the decision of taking a short trade.