Cummins India Bearish Bat Pattern on Weekly TF

RajJames Premium Updated   
CUMMINSIND reaching Major Structure Zone (Yellow)
which has been a support now acting as resistance.

Tested and failed in September' 19 & January' 20

In Confluence with below

1). Weekly timeframe - 0.886( Bearish Bat ) & 1.618 AB=CD
Patterns PRZ converging within 610-630 zone

2). RSI 70.64

3). Monthly timeframe - touching 0.382

1 - 485
2 - 406
Harmonic pattern respected
Trade active:

Cummins India short.
CMP : 607
Target 1: 585
Target 2 : 573
Target 3: 560
Target 4: 510
Swing trading in 1 he time frame. Trade like voltas. Buy 600&/550 PE AS POSITIONAL FOR FEW Days or 650 PE for intraday only if volume and liquidity present. Can hold monthly options till 15 of month or exit on fridays. Renter on Monday according to risk appetite

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.