Its Daily chart of cummins india.
As can be seen a bigger falling channel breakout is followed by a formation of another falling channel.
Second falling channel breakout done.
Price has just closed above previous resistance of 908-910, with increased volume and strong candle spread.
This resistance area has been tested 5 times before. Price has managed to close...
I think we have discussed same chart earlier too
But now finally start after too much consolidation
On longer Time frame(Weekly, Monthly) you will see some kind of Trendline Breakout and Retested And in shorter Time frame Inverse Head and Shoulder Pattern
Whatever it is you just buy above 915
With Sl 820
Tgt 950 1000 1050++
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After an exponential rise the stock is back on its trend line taking a strong bounce on the trend line and 747 support as well. Good consolidation since it hit high on 1st April. Likely upside of 933 coming soon. Can be bought in parts at CMP and then again when it take support from trend line. Price has multiple supports at 20 and 50 EMA followed by trend line...
CUMMINS IND is forming an inverted head and shoulder pattern on a daily time frame. could be played short-term for the neck, risky players can wait for neck breakout for targets up to 1120.
Zone 800-820 is a good support zone. Entry here would be ideal.
1. long zone price movement
2 .right time short trade available only
rising wedge pattern support line break and healthy confirmation retracement also done
3.bearish engulfing candle formed go to down support line
4. suppose break the primary trend support line 100% u can heavy fall
#CUMMINSIND looks to be a eligible counter for breakout above 900
It has been staying the box for 800-900 Box since last 3 months and for the last few days it is staying in the top of the range attempting a breakout
The volume support has been increasing in the recent past
The counter has making highers highs for while now and nearing its recent BO point