As per the 2 Hour Chart of CUMMINSIND, we have witnessed a formation of a bullish engulfing on the downside levels.
Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Wherein, the stock is being expected to face a resistance initially at around the levels of 1001.85, 1017.85, and 1029.15. Whereas, on the other...
Breaking out of the zone above 1064, the 5 year price high of 1094.95 last achieved on 2 May 2017, broken.
7 year price high of 1247.65 last achieved on 3 Aug 2015 can act as immediate target and resistance.
Probable target: 1373
Keep a stop loss of 5-8%.
Note: Not a buy and sell recommendation, do your own study and consult your financial advisor
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
Previously all target achieved inclusive positional.
CUMMINSIND : cmp : 1109.4
A rounding bottom kind of pattern has been formed in weekly chart.
Closed above 1100.
Making higher highs for 3 days.
Buy on dips.
Accumulation zone :1030-1060
Profit booking zone may be : 1128 - 1148
SL 1008/According to your risk appetite.
Positionally can move 1240+
CUMMINS has been bullish since the past few months and seems to be on path to move past its all time high levels. The stock can be a good buy at current levels to ride the upmove with SL at 900-910 levels.
CUMMINS INDIA gave a fresh CUP & HANDLE pattern breakout on weekly timeframe ,
Factors Supporting this breakout :-
1) VOLUME BUILDUP :- From the last 3 week trading session where the price is increasing continuously the volume is also increasing which denotes strong hand buying by the traders.
2)MACD:- MACD is showing is a positive divergence and also...
📈 Cummins India 📉
Today broke out from year 2021 high, 2017 high and approaching to all time high.
On Buy Side I am looking for Targets of 1190-100 zone.
StopLoss should be kept in 1005-1015 zone.
It offers 1:1 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you...
Moving out of Range with good volume
TGT - 1150 &1300+(Positional)
SL - 950
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be...