CUMMINS INDIA
- As per previous report published on CUMMINS INDIA stock has shown up move after breaking its resistance @ 688 and stock touched its next resistance @ 705, as mentioned in our previous report. (Click here to see previous report published in CUMMINS INDIA).
- Now current chart indicates that stock is still moving in its up channel formation, so as long as stock moving in its channel formation it will be favored by bulls, sharp weakness expecting once Cummins comes out from its channel formation.
- Suggested Reading - CENTURY TEXTILES facing strong golden ratio resistance , will favor bulls once it closes above.
- As per technical graph no2, stock is trading above its 20 days moving average and if holds above 20 DMA then stock will test its upper bollinger band resistance. But once stock closes below 20 DMA it will show first sign of weakness. Close Watch.
- Daily chart also indicates that stock 100 DMA is playing an imp. role in CUMMINS India, from last 5 times stock took 100 DMA support and bounced back, so as long as holds above 100 DMA, short-long term traders are on safer side, but once closes below 100 DMA then a caution signal for long-short term trades. And on upper side stock will find strong trend line resistance around 709, if closes and holds above 709 then Cummins will be again in bulls hand and sharp up move will be expecting as long as holds above 709.
- Intraday Share Tips - Close watch when Cummins (I) starts trading above 709, if holds above 709 during stock market hours then intraday bulls action is expecting.
- Suggested Article - NSE trading holidays list for 2014.
- As per graph no4, if stock moves up and closes and stays above 709 then Cummins (I) will find next strong resistance around 780 its 161.8% fibonacci retracement.
- Click here to see all the free trading reports (tips) published by us on CUMMINS INDIA.
- Free tips on share.
No comments:
Post a Comment