CUMMINSIND trade ideas
Synergistic Pattern: Double bottom + Horizontal resistanceLevels are on chart.
Please like this pattern.
Thank you. Happy Trading!!!
Cumminsind share on bullish mode.Once the major resistance zone @ 350 broken then the stock can be taken for long entry for the target price of 375 to 380. Bullish trend is appearing in the stock . So add the stock in your watch-list & lets wait for the entry level. Stop loss and target can be taken as per your reward to risk ratio. so keep patience wait & watch.
long positionWHEN BREAKS THE TREND LINE TAKE LONG POSITION FOR SWING TRADING.....
STOP LOSS = 310
FIRST TARGET = 410
SECOND TARGET = 515
CUMMINSIND-Channel breakout or failure?Cumminsind has given a close at 329.7 after a strong supply zone at 343.5.The trendline support lies at 320/21 with resistance zone still entact at 343.5.A move above this will open the gates till 375 and 406.a close below 320 may lead testing of earlier lows of 280.
Triangle Special - CumminsIndPrice action is consolidating inside a triangle. Getting ready for the break out.
Cummins India testing its old support levelsCummins India down 3% despite Amundi Funds buying its shares. A potential candidate for short sell.
Its just my view. Trade at your own risk.
10.0 - CUMMINSIND - LONG IDEACapital available after previous trade 8.0 = 1465082
Risk 0.2% = 4000
Position size = 4000/15 = 266
Investment = 370*266 = 98420
Capital available for next Trade 10.0 = 1465082 - 98420 = 1366662
CUMMINSIND ::: NEUTRALINSTRUMENT: CUMMINSIND
TIME FRAME: DAY
OTHER TIME FRAMES FOR CONFIRMATION:
1HR, 2HR, 3HR, 4HR, DAY & WEEK
INDICATORS AND THEIR TRENDS:
PSAR: BEARISH
STOCHASTICS: BULLISH
SUGGESTED TREND: SIDEWAYS
END OF DAY PRICE ACTION SUGGESTS BEARISH TREND
CMP: 377.50
SELL BELOW: 372.88
SL: 373.92
TARGET 01: 370.30
TARGET 02: 369.14
My analysis is that CUMMINSIND is expected to stay in a sideways trend for some time. Very good jobbing opportunity in this counter. Expecting it to bounce around 368.35 to388.35. A trend can be established only after a breakout of either of the levels. On the monthly time frame, this counter is expected to be bullish only above 395.50.
RISK DISCLOSURE
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS the views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
[POSITIONAL] CUMMINS: Inverted Flag PatternBuy/Sell on channel break. SL should be breaking of the channel on the opposite side.
[POSITIONAL] CUMMINSIND: Bullish EngulfingCummis fell more than expected near the end of the day making intraday SL quite steep. Please avoid gap-down and large qyt.
