Hi This is for a short term buy. It seems Cummins India is a short term buy above 564.80, with a SL of 544 and targets around 600/620. The Risk Reward ratio is around 1:2 & 1:3. MACD is showing divergence on daily chart and has given a buy signal. RSI is nearby 50 and is in with sync with the up-moves as of now. So with this small SL in mind, we can initiate longs.
Trade active
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Trade got active few days back. Has not yet hit the SL. So still the target can be reached. MACD is looking good to go long.
Comment
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Looking at todays close, we can expect a good rally in coming days. SL still is the same(544).The Chart looks more bullish now. The targets of 600/620 might come very fast.