CUMMINSIND trade ideas
CUMMINSIND Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
SHORT CUMMINSINDShort CUMMINSIND as it has formed an Engulfing Candlestick Pattern which has Engulfed previous 2 Candles
The Candle is also similar to Bearish Marubozu which show high confidence of Bears
Pivot Point's Support 1 is also penetrated
The Trend line is about to get broken and we may see a good penetration of that trend line as Bollinger Band is expanding
RSI is at 31 level which shows it's ready to go into the oversold zone.
This trade has a very high probability of hitting its target.
Happy Trading.......
LongCummins India has a strong support in the zones of 532-536. Furthermore, it has formed a "spinning top" pattern at the end of a downtrend. If the support is sustained, the next upward target would be 560-565 followed by 590 and 630. For day traders, in case of a gap down around the support levels and sustenance of those levels will be a good day to go long. (Volume support required) In case of a gap up, previous day's Low/high re-testing and sustenance is required to go long.
Cummins IndBreaking the support 530 - 535 level will make the price to fall towards 525, 518 and 510.
#CUMMINSIND breakout from downtrend#CUMMINSIND has given breakout from downtrend, key resistance levels to look for are 585 to 595.
Breakout would be strong if enough volume is seen, currently it's in sideways trading in range.
Breakout from box would give clear picture.
Cummins may take an U-TurnBullish Divergence is forming in Cummins in Weekly Timeframe and we are waiting for the confirmation in price action to take a position.
I would update the Idea.
Happy Trading!
Rachit
Cummins 545/- Buy looks amazing Investment NSE:CUMMINSIND Buying 545/- looks awesome investment for long term
Cumminsind - Trendline SupportSupport Levels: NA
Resistance Levels: 556, 569, 578, 586, 599, 635
Trendline Support Levels: 539
Trendline Resistance Levels: NA
Bullish Anti Gartley - CummninsInd - Daily Bullish Anti Gartley - CummninsInd - Daily
PRZ: 546-547
Weekly Supply Zone near PRZ.
