FY21-22 Swing Trade Idea #103: Long on CUMMINSINDThis is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
CUMMINSIND
Descending Parallel ChannelNSE:CUMMINSIND
Notes :
Descending Parallel channel started around 17th March
To be on the safe side, I would confirm breakout only if the most recent swing high is crossed (at 858). However, for intraday, the immediate target after breaking the channel can be kept at the same level.
Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
CUMMINSIND | On the verge of CUMMING 💡 💡
Looks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
Check these Upcoming ideas - STILL ACTIVE
Check these successful trades & approach on Britannia , Mothersonsumi , DLF , Biocon , Daawat , Infosys , HBL power , HDFC life , Hind ZINC given below
If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know.
Leave a comment that is helpful or encouraging. Let's master the markets together
Short Opportunity in CumminsIndOn 4hr tf a falling wedge pattern broken and in 1hr tf the rising channel pattern seems to be broken on the downside which could possibly mean that the stock is ready for a retest at the 4hr tf falling wedge pattern's upper trendline and then continue it's uptrend. Below 830, the levels of 820 and 816 can be seen. If a big momentum candle closes below the trendline then a downward till 800 is possible.
Stock Analysis of Cummins Ltd.Price - 833.10 Dt. - 11.06.2021
Yesterday, the stock broke the trendline with near-average volume and today it took support at the trendline and moved back. The stock closed in red but it gave closing above the trendline which shows stock can still move upward.
Stock is above the 21DEMA and 50DEMA, in fact, 21DEMA is ready to cross the 50DEMA from below. RSI is in the neutral zone.
The resistance line is placed at 929.35.
APOLLO TYRES 🎡🎡APOLLO TYRES
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
Check these Upcoming ideas - STILL ACTIVE
Check these successful trades & approach on Britannia , Mothersonsumi , DLF , Biocon , Daawat , Infosys , HBL power , HDFC life , Hind ZINC given below
If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know.
Leave a comment that is helpful or encouraging. Let's master the markets together
MACD bullish crossover in CUMMINSIND CUMMINSIND trading in downtrend channel since last 1 month trading session. Yesterday it reached near the resistance level of downtrend channel in same its also shows MACD bullish crossover. This indicates that more chances it will give breakout of this downtrend channel and give projected target upto 935+.
Cummins India - Hammer with massive volume in Accumulation phaseCummins India seems to be in accumulation. The price formed a hammer on 200 moving averages and took liquidity from the previous support zone. The volume expansion was massive but the market structure is still Bearish. It's too early to say about the follow-up but it would be a good ambush entry if someone is willing to take the risk.
Targets: 805, 865, 922.
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Cummins India - Descending triangleCummins India is forming a descending triangle pattern in daily TF
Short if the support zone is broken for a target of 755
Go long if the slope of the triangle is broken on the upside for a target of 925
To encourage my work, give a like and show your support. Thank you!
Please stay safe! Happy Trading!