Target of 800, stop loss of 680-675 for Siemens: Rohit Shinde

ET Now spoke to Rohit Shinde, Asst. VP, Technical Research, CD Equisearch Pvt Ltd, on his views on Siemens and Punj Lloyd shares.

ET Now: In the capital goods space, how do you see Siemens and Punj Lloyd?

Rohit Shinde: Yesterday, Siemens closed approximately 702 levels. There are very good charts for this particular stock. Continuously higher tops and higher bottoms, that is a very bullish sign for this particular stock plus staying above the 20 and 50-day exponential moving average and that too for a period of approximately three to three and a half months.

So it is making a very good up move and going ahead, we can again see lot of strength coming in this stock. So people who are in for a medium term buy, you can definitely enter in this stock at these levels. Then easily get a target of approximately Rs. 800 maybe in the next month or so and you can keep a stop loss of approximately 680-675.

Speaking of Punj Lloyd, yesterday it has closed approximately at 179 levels. Now I would not agree with Siemens and Punj Lloyd being in the same stable because they are very very contradictory, very different.

For Punj Lloyd, it is completely opposite, lower tops and lower bottoms in the past two and a half to three months, continuously below the 20 and 50-day exponential moving averages. Just has bounced back from the extremely low which has made above 170 levels. Now it has come to 178. So nothing exciting about this stock, but a very good buy would be Siemens at this point of time.