Hi Everyone,
As you can see CUMMINSIND broke down 1 year trend line and is in downtrend.
RR is good in CUMMINSIND for short term, and mentioned in chart.
I posted a LONG trade in June, at 1200 rs, and then it touched a high of 2000, and came down to 1700..
1700 is strong support, as long it is below 1700 you can consider it in bearish trend..
One can short 1800 CE with proper hedges..
Still the long term view is bullish, as due to weak results, currently its in down trend, 1700 level is crucial and take trades accordingly..
** I AM NOT SEBI registered advisor please consult financial advisor for your investment.
**This is only for educational purpose you can also share your thoughts on the comments
As you can see CUMMINSIND broke down 1 year trend line and is in downtrend.
RR is good in CUMMINSIND for short term, and mentioned in chart.
I posted a LONG trade in June, at 1200 rs, and then it touched a high of 2000, and came down to 1700..
1700 is strong support, as long it is below 1700 you can consider it in bearish trend..
One can short 1800 CE with proper hedges..
Still the long term view is bullish, as due to weak results, currently its in down trend, 1700 level is crucial and take trades accordingly..
** I AM NOT SEBI registered advisor please consult financial advisor for your investment.
**This is only for educational purpose you can also share your thoughts on the comments
Trade closed: stop reached