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.
Refer chart for target and stoploss. Indicators are showing bullish signal.RSI,STOC,MACD,CCI are in bullish mode, and ADX showing bearish reversal. This all helps to move up further.
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.
It is been observed on the daily chart that the price action breaks below the important and crucial support zone indicating further weakness in the stock. Now, if it closes below 880 levels today then It shall now further dip down from current levels.
Target 1: 860
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..