Go long in Siemens, Maruti: Religare Securities

MUMBAI: Religare Securities is of the view that investors can go long on Siemens India and Maruti Udyog.

Siemens (Rs 575.15): Long positions may be taken in this counter on dips preferably around Rs 550 if it gives support, with a stop below a decisive breach of Rs 537 for a target of Rs 585, Rs 596, Rs 600, Rs 610.

Resistance: Rs 585, Rs 596, Rs 600, Rs 605, Rs 610, Rs 624

Support: Rs 565, Rs 555, Rs 545, Rs 540, Rs 530

Maruti Udyog (Rs 562.15): This counter has a strong resistance in the Rs 580-590 region. Short positions may betaken in this zone on rallies with a stop above if prices move decisively above Rs 600 for a downside target of Rs 545-540and a pessimistic target of Rs 520 if Rs 540 is broken decisively.

Resistance: Rs 575, Rs 590, Rs 600, Rs 607, Rs 615

Support: Rs 560, Rs 550, Rs 545, Rs 540, Rs 526, Rs 520