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CUMMINS INDIA LTDCUMMINS INDIA LTDCUMMINS INDIA LTD

CUMMINS INDIA LTD

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CUMMINSIND trade ideas

U-TURNAfter result day Cummings India failed to reach market exception price sharply corrected from 1070 to 885 levels, But Still quarterly numbers are pretty well. Technically now price has failed to break 38 percent retracement level 881 and Managed trade near above 50 percent retracement 992. Currently closed @ 919 levels trades can buy in the range of 915 -900 levels with stoploss below 880 levels. Happy Trading Feel free to ask me Disclaimer* I had shared my perception on my technical awareness and I post it for educational purpose only before investing or trading on my analysis reports please do your own research & trade with Risk management strategy.
NSE:CUMMINSINDLong
by Jnaneshsd
Double zig zag for wave b is over ? Has (c) started for ((iv))The low of 747 was actually an end of wave (a) and Cummins was going up in a wave (b) . It seems to be a good short for June futures . It seems the double zig zag has ended as the channel to the down side was broken tday and the move was impulsive. There can also be a third zig zag but that would be rare . Even if the 3rd zig zag is there the move is corrective and hence destined to go down . Top of wave b was an exact 0.618 percent retracement of wave (a) . Since the retracement deeper than 50% so we should expect wave C to go down by 0.618 % extended from the end of wave B . i.e 794 or 0.786 i.e 704 . We will need to see at which point the five wave structure is completed If it goes below 700 then the entire labelling would not be motive but corrective so more downside . Which seems unlikely . sl for the trade should be 1027 .
NSE:CUMMINSINDShort
by AJAYSHARMA
CUMMINSIND : Sell/Short @ 910-911 Target 880-860-840 SL 918Dear Readers, If you see the long term chart of CUMMINSIND, you would find that the stock has been witnessing a sideways movement making higher lows and lower highs. The internal built of the first leg from the low of 746.15 to the high of 947 and third leg from the low of 747.55 to 921 looks like impulsive movements, please refer to the chart for the reference. Let us name those impulsive movements wave 'a' and 'c' for time being Now, if you see the chart, whereby a resistance line has been drawn conjoining the two tops of these two impulsive movements, 947 and 921, end point of 'a' and 'c', the stock has reached/ touched the resistance line and may find a strong resistance over this point. This is a suitable point where traders can sell or go short on this stock at current price of 910 for an immediate targets of 880, 860 and 840 with the stop loss of 918 on upper side.
NSE:CUMMINSINDShort
by sgor1980