Siemens may touch Rs 1050-1100: Ashish Chaturmohta

According to Ashish Chaturmohta of Fortune Equity Broker, Siemens may touch Rs 1050-1100.

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, " Siemens had seen a breakout on monthly chart and with this breakout we have witnessed a strong built up of positions in last four trading sessions. The stock is continuously moving up since it made a low of around Rs 900 odd levels. We will see strong short covering happening again in the stock."

"We are expecting a target of Rs 1080-1120 on upside on positional side whereas in short-term one can expect a target of Rs 1050 to Rs 1060 levels. On the downside Rs 945-950 which is a very strong support in short to medium term, one should keep that as a stoploss for a target of Rs 1050 to Rs 1100 kind of levels," he said.

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