CUMMINS – CMP - ₹419.10 Dt. – 08-08-2020
On a daily chart, the price is taking the support of trend-line and bounces back. As you can see the price has moved upside after the price touch the trend line on 16th July 2020. Price is above 21DEMA and 50 DEMA. On 7th August the price gave the closing above the resistance level which was placed at ₹416.90.
I personally feel that stock will come down in a couple of trading session and will give an attractive risk-reward ratio for swing trading. If the stock moves up from the next session and sustains above the horizontal line for a few days, then the stock can go up to ₹440.75.
Indicators like MACD and CCI have given a buy signal.
On a daily chart, the price is taking the support of trend-line and bounces back. As you can see the price has moved upside after the price touch the trend line on 16th July 2020. Price is above 21DEMA and 50 DEMA. On 7th August the price gave the closing above the resistance level which was placed at ₹416.90.
I personally feel that stock will come down in a couple of trading session and will give an attractive risk-reward ratio for swing trading. If the stock moves up from the next session and sustains above the horizontal line for a few days, then the stock can go up to ₹440.75.
Indicators like MACD and CCI have given a buy signal.