NSE:CUMMINSIND
I am posting it, on request from one of the follower.
Observations:
1)On Weekly Time frame: We can see that now 1000 level is very very critical level.
And on the upper side it has a resistance Zone: 1045 to 1065.
And in coming days if it takes support from it and breakout 1045-1065 reistance range then it will start upmove again.
If it...
Stock is in BULLISH Trend , 50 EMA above 200 EMA
Stock was gave a BREAKOUT from a major PRICE ACTION LEVEL and give the CONFIRMATION for the BULLISH move in coming days
Set STOPLOSS at 1099
BO done above 935 today out of long consolidation range.
- Stop loss - 819 Target - 1120.
- RS rising into the positive zone.
*only for educational purpose not a recommendation
Cumminsind -- strong breakout after months of consolidation -
Looking strong above 925 - backing up with good volumes on daily timeframe
Next res level - 1048 - Keep an eye on this level. Couple of times reversal happened at the same level in past.
Considering market sustaining above current levels - Good opportunity gor swing trade from 975 to 1045...
Cummins India Inverse Head and Shoulder pattern completed, expecting a higher movement
Potential target is Rs 1065 within 6 months time frame
Keep SL below 850 level on daily closing basis
Do your own analysis before investing
The stock has given the breakout and looking a good buy if sustains above 950 tomorrow for the marked targets.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Cummins India is making ascending traingle.
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So if the stock give breakout above triangle target will 940-960.
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If it goes below trendline then we can see the sharp selling. But I think volume is high,
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There is less chances to go bearish.
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What's your view on this comment below in the box.
After last upmove #CUMMINSIND consolidating almost 5+ month.
It tried multiple times to sustain above 900 but failed each time. Finally now it sustaining above 900 plus it give highest weekly closing after March 21.
Long entry can be initiated at this level with SL of 820. For safe player wait for daily candle close above 925.
Target - 1200+ All time high.
cumminsind ready after inverse head and shoulder
target is drawn in picture
time period is definetely undefined because we have to learn to react in market not to predict
learn to react not to predict
![CUMMINSIND: Simple Trade Setup |CUMMINS INDIA | 20-09-2021 [INTRADAY]](https://s3.tradingview.com/f/fADM064d_mid.png "Simple Trade Setup |CUMMINS INDIA | 20-09-2021 [INTRADAY]")
