Just a view on banknifty on daily candles its newr its resistance and trying to take it out will see if it takes out that resistance or fall below te support to form LL LH LL LH pattern
stock is at its support and probability is that it will take support from here otherwise we will give a small stoploss of 2.5% and target is definitely big 15%.
The stock is well corrected from the recent highs it came down to a 200 day moving average and halted well there or consolidated and now it is giving the breakout of that consolidation zone with a strong volume
this is a good stock for a short term 15-20% gain.
cummins india is looking good if it breaks the resistance level...
if it gives closing above 940 in daily candle then we can consider it as a breakout of previous resistance then it can head towards 1040/50 levels
and ofcourse after giving break out of that levels we will still prefer to wait for a pullback .
it is looking good at current levels since nifty is breaching its supports but this stock is standing firm at the support levels if it starts showing recovery then it will surely move to the upper trendline of the chart which is almost 15% from cmp
simple price action in this stock it looks like it is breaking the resistance it was tasted multiple times before and now it is breaking it we will wait for reversal in 1h chart to go long on this stock.
