CUMMINS INDIA LTD
- As per previous report published on CUMMINS (I), stock has shown intraday bulls action by breaking its resistance @ 709. After breaking its resistance @ 709 stock made an high @ 718, but failed to closed above its resistance @ 709. (Click here to see previous report published on CUMMINS (I)).
- As per current stock analysis chart no1, stock is still moving in a up channel formation, so long as it moved in its channel patter bulls will be favored, and on upper side Cummins will find strong resistance around 718 its recent high. Once Stock closes above 718 and stays above then further strength is expecting for next few trading days.
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- Intraday Trading Tips - Once cummins starts trading above 718 and if holds above then intraday bulls action is expecting.
- As per technical graph no2, stock is trading above its 20 days moving average as long as stock holds above bull will dominate in Cummins (I). But once stock closes below 20 DMA it will show first sign of weakness. Close Watch.
- Technical chart no3 also indicates that 100 DMA is also playing an important , from last 5 times stock bounced back from 100 DMA, as long as stock holds above, short-long term traders will be favored.
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- As per chart no4, If stock moved up from current levels and closes and holds above 718 then will find next strong resistance around 780 its 161.8% fibonacci retracement.
- But if Cummins (I) falls from current levels then close watch on fibonacci retracement support zone around 686, 667, 653 and 636 as shown in chart no5.
- Click here to see all the free trading reports (tips) published by us on CUMMINS INDIA.
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