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Cummins India Limited
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Descending Parallel Channel

114
CUMMINSIND

Notes :
  • Descending Parallel channel started around 17th March
  • To be on the safe side, I would confirm breakout only if the most recent swing high is crossed (at 858). However, for intraday, the immediate target after breaking the channel can be kept at the same level.




Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
Trade ativo
Still hugging the top trendline..
Even though the candle on 14th June had a low of 811, it closed much higher keeping breakout still in the cards.
Nota
Looks like a breakout..
Waiting for a candle to close above the previous swing high at 857.
Aggressive traders can use that as the first target intraday (1%)
Nota
Almost confirmed breakout.. Testing the daily R1 and our previous swing high levels.

Looking forward to a break and close above 857 tomorrow.
Nota
Keeping the top trendline of the descending channel as a support.
Trade fechado: objetivo atingido
Neat break. Taking a swing high as resistance.
the_consolidation_guy
Chart PatternsCUMMINSINDDescending ChannelTrend Analysis

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Chart PatternsCUMMINSINDDescending ChannelTrend Analysis
the_consolidation_guy

Aviso legal

As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.