> Target & SL Levels on chart
> near ATH
> at RS support
> PE trending higher. Earnings expectation high.
> volume confirmation on 6th Feb weekly candle
> Not a market for rapid moves, so target most likely would take till year end.
Note: InvestIn10 would ride this till Momentum exists. The Target & SL are for Swing Investors only.
Hello and welcome to this analysis
In the daily time frame after a very strong run in 2022-23 the stock is showing a reversal signal.
It could test the Ichimoku kumo levels of 1550-1525 as long as it sustains below 1625.
CUMMINSIND Weekly & Daily Chart showing bearish divergence between its PRICE and RSI.
Price is trading at all time high price. If price forms any negative price formation or bearish candle than only we can expect god fall towards downside.
CMP -- 1600
On a monthly chart, wave 1 and 2 are complete and we are in the third wave.
In 3rd wave, the 1st wave is about to be over. If it will retrace a good level (61% of wave 1, inner 4th wave of wave 1), then a nice bull run is expected.
Short-term analysis - You can short it at some good level while managing risk.
Long-term analysis - If wave 2 confirmation is good,...
Cumminsindia view for 15th Feb
Ascending channel continuation expectation above 1620
Also resistance area has to break with good volume
Please follow strict risk reward and stop loss if you follow my level
Thanks,
V Trade Point
CUMMINS INDIA is trading at near all time high and it makes traingle pattern on All time high breakout of this pattern can give some momentum. lets wait untill the breakout of pattern
Hello Traders,
We have seen bullish flag pattern breakout in CUMMINSIND stock with huge volume and it had opened today in gap up,,this is showing positive moment in this ticker,,as this has opened in gap up so we can see some downside in this till one day or two day and that will be the best time to enter in this to get our target..here also is best buying range...
Cummins India forms a bullish pattern, as we can see price is rejected multiple times from the resistance level with decreasing strength, and a breakout has been given. and Retesting to the same resistance as support, the probability is very high to move upward after retesting.
Entry Level:- Above @1435
Stop Loss:- Below @1415
Targets:- 1450, 1460,1470
