CUMMINSIND
Cummins Updated pattern | Resistance turned into Support ?If this resistance zone breaks for below don't sell directly ..... but can buy here for a low-risk high-reward trade .....
Hold for the BO of ascending triangle BO then take upper tgts too .... positional setup will be activated :)
Happy trading
What would be Cummins Next Move?The stock is taking support from the blue trend line and expected to take a bounce towards 930 levels. In case it breaks the trend line, then we may see 750-760 zone soon.
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Happy Trading!
InvestPro India Team
Cummins India: Near Multi years BreakoutThe stock has performed exceptionally well in the current market rally and now retraced to a level of 750-760.
Currently it is trying to make a base between 700-750 levels. once a daily candle is closed above 800 Levels with above average volumes which currently acting as resistance. Then a further rally can be seen to 1100 levels.
All levels are mentioned on chart. The perfect entry would be only after a strong closing above 800 levels.
DISC: For educational purposes only. Please consult your advisor before making any bet.
Cumminsind multi-time frame + supply zone+ parallel channel In 15 mins stock is nearby its lower trendline, Currently closed to proper valuation as shown by the valuation band in 1st chart. Also standing on nearby supply zone.
In 2Hrs timeframe it has formed a parallel channel and also nearby 50 ema.
The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
PANEL 2:
1) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!
Dont miss the opportunity in Cummins India long term investment Bullish bat took 8 yrs to complete...with same time taken.....look at the volume at the bottom..... could be great investment opportunity for long-term
Accumulate 520-570
Target 1000
Possible target date 4th june 2024
Thanks
Jigar Pateel
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