Cummins India: Breaking Key Trendline | Buy Setup for 4,200+ BUY Setup 🔧
Entry: ₹4,073-4,080 (Current Level)
Target 1: ₹4,100-4,120
Target 2: ₹4,150-4,175
Target 3: ₹4,200+ (Extended)
Stop Loss: ₹4,025
Technical Rationale:
Breaking above descending trendline resistance from September highs
Testing critical resistance at 4,101 level - double top breakout zone
Strong bullish momentum with +1.82% gain today
Higher volume (656.35K) supporting the breakout attempt
RSI trending upward around 60, showing momentum building
Price reclaiming 4,070 support turned resistance level
Consolidation phase ending - preparing for next leg up
Capital goods sector showing strength
Clear inverse head & shoulders formation visible
Risk-Reward: Favorable 1:2.5 ratio
Pattern: Descending trendline breakout + Double top resistance test - bullish continuation signal
Strategy: Short-term swing trade - Book 40% at T1 (4,110), 30% at T2 (4,160), trail remaining with SL at 4,080 after T1
Key Levels:
Critical Resistance: 4,100-4,102 (breakout confirmation)
Support: 4,050, 4,025, 4,000
Note: Watch for confirmed breakout above 4,100 with volume for strong momentum continuation
Long
