CUMMINS INDIA
- CUMMINS INDIA moving in up channel formation in daily chart, this indicates as long as stock moving in this formation it will be favored by bulls.
- As per graph no 2. Cummins India is trading above its golden ratio 61.8% fibonacci retracement from last 3-4 trading session. Once stock closes and stays above 688 its minor trend line resistance then further up move is expecting in Cummins India. After 688 stock will find next strong trend line resistance around 705 (its previous top).
- Intraday close watch once stock starts trading above 688, if stays above with volumes in day trading then intraday action is expecting by bulls.
- Suggested Reading - HERO MOTOCORP on the verge of bullish breakout above 2625.
- Daily chart also indicates stock is holding its 100 days moving average, as shown in graph no 3 from last 4 times stock took its 100 DMA support and moved up, this time also stock is moving up from 100 DMA, as long as stock stock holds above it will favor bulls. Close Watch.
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