NSE:CUMMINSIND   CUMMINS INDIA
CUMMINSIND has been moving around the neck line.currently testing the neck again. Awaiting a breakout/Reversal

Comments

How could it be a "breakout or reversal" zone?
If its a rounding bottom pattern then it has to be a breakout zone or a false breakout zone. Because the neckline of a rounding top is always a resistance which would give bullish move upon breakout. If it fails then it would be a false breakout.
Please share your view on this.

Thanks,
Rasika
+1 Reply
Einstein15 Rasika_S_Patel
@Rasika_S_Patel, Two more cases that can happen on any resistance level(especially on major ones) is Reversal without false breakout (creating a handle to the round cup), or a false_reversal with a breakout. Like how it happened in the previous yellow box.
Think of the yellow box /neckline as the fighting arena between bulls n bears. All 4 possibilities are valid(2 that yo mentioned about breakouts and two about the reversals)
+1 Reply
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