SIEMENS
Hello all!
Here we can see that Siemens is taking constant supports from the supporting trendline since Dec 2020. The stock is now again at its supporting trendline which creates a good opportunity to go long!.
There are three strong reasons for me to take this trade:
1) The support zone at 2150 levels
2) The presence of a strong 50 day EMA
3) The Fib level of 50% which is the level to which a stock usually retraces to before continuing its upward journey
Thus there is a triple confluence. The Reward to Risk ratio is also favorable. Also nifty is extremely bullish which further reduces the risk.
Do let me know your thoughts on this!!
*NOT A CALL*
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