13 May 2020
INSTRUMENT: CUMMINSINDIA
TIME FRAME: I HOUR
OTHER TIME FRAMES FOR CONFIRMATION:
1 HOUR & 2 HOUR.
INDICATORS AND THEIR TRENDS:
PSAR: Bearish
STOCHASTICS: Bearish
SUGGESTED TREND: Bearish
Technical levels
CMP: 19618
Sell below: 361.10
SL: 364.75
TARGET 01: 360.25
TARGET 02: 358.81
My analysis of CUMMINSIND is expected to continue its downtrend for...
Instrument: CUMMINSIND
Time frame: 4 hours
indicators:
Stochastics: bearish
PSAR: bearish
My analysis:
Expecting CUMMINSIND to gap down / sink to 371 - 354 on Monday.
Once it starts retracing back upwards would like to buy above 366 to 371 keeping the so below the low of the day for targets 379 - 386.
RISK DISCLOSURE:
Technical analysis of FOREX and INDIAN...
Hi
This is for a short term buy.
It seems Cummins India is a short term buy above 564.80, with a SL of 544 and targets around 600/620.
The Risk Reward ratio is around 1:2 & 1:3.
MACD is showing divergence on daily chart and has given a buy signal.
RSI is nearby 50 and is in with sync with the up-moves as of now.
So with this small SL in mind, we can initiate longs.
A Neat descending Triangle in Cumminsind indicates indicates selling, since a descending triangle is a sell pattern.
But the Price flow in this Chart indicates that the price is Strongly rejecting any new Lows at 550 (Round Number Support) which indicates incoming Buying pressure around this area.
Also, we see a Break out of the Triangle, giving a slight...
buy @ 588.50
sl 554
target- no upper target trail the profit
REASON FOR BUY
1.PRICE TAKING SUPPORT THE LONG TERM TRENDLINE AND
2. PRICE IS HOLDING THERE FOR MORE THAN 3 WEEKS SHOWS THE SIGN OF REVERSING
