Cummin Symmetric Triangle Breakout
Gave BO on 12 Nov with good vol and
broke swing high as well.
Generally after such massive move, next few session stock goes sideways.
If sustained above 482, first target 495
(500 may act as hurdle) Next targwt 522
Note : This idea is for only learning purpose.
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
August Series Option can be traded.
Wait for entry setup, if available then Long/short.
Reward is 5-6 Times
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.
CUMMINSIND has gained 3.16% on NSE with 3.45 times its average volumes supporting fresh long positions in FNO segment on NSE. The stock is in an uptrend trading above ichimoku.
Take a JAN Positional Long on this stock in Options. Please consult your financial adviser before investing.
BUY AT : 848
Target 1 : 890
CUMMINSIND is on a third day long steak with gain of 10% and a GAP UP opening.
GO LONG IN CASH MARKET ONLY. DO NOT RISK IN FNO
Buy at 746.85
Target 1 at 772
Target 2 at 824
Consult your financial adviser before investing.
Symmetric Triangle and price on Demand zone. It is a good chance enter into the right direction either long or short.
Long - Entry 925, Targets - 945 / 969 & SL - 900
Short - Entry 899, Targets - 882 / 859 & SL - 924
Note : Demand zone will trigger for long side. So, need caution on short side.
We will be interested in this trade setup only if downside break happens, if it never gets on, there is no trade, we will be looking for some other setup & scrip. Conservative traders book your partial positions around 900's zone & trail. Depending on your targets you need to adjust your stops , take care ! All the Best with Cummins..