CUMMINS INDIA GAVE A CUP AND HANDLE BREAKOUT
CUMMINS INDIA gave a fresh CUP & HANDLE pattern breakout on weekly timeframe ,
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Factors Supporting this breakout :-
1) VOLUME BUILDUP :- From the last 3 week trading session where the price is increasing continuously the volume is also increasing which denotes strong hand buying by the traders.
https://www.tradingview.com/x/a7G7VqAX/
2)MACD:- MACD is showing is a positive divergence and also currently placed above the center line .
https://www.tradingview.com/x/5fKXxLjP/
3) Strong Weekly Bullish Candle .
So one can enter this trade with his/her 50% capital according to risk management for this stock and add rest if it retest the the breakout level .
our stoploss will below this week low that is 1018 , and i am leaving the target level upto you guys as it can really big .
This is only for educational purpose , excute trade only after doing your own research and according to your risk appetite .
HAPPY TRADING
.
.
Factors Supporting this breakout :-
1) VOLUME BUILDUP :- From the last 3 week trading session where the price is increasing continuously the volume is also increasing which denotes strong hand buying by the traders.
https://www.tradingview.com/x/a7G7VqAX/
2)MACD:- MACD is showing is a positive divergence and also currently placed above the center line .
https://www.tradingview.com/x/5fKXxLjP/
3) Strong Weekly Bullish Candle .
So one can enter this trade with his/her 50% capital according to risk management for this stock and add rest if it retest the the breakout level .
our stoploss will below this week low that is 1018 , and i am leaving the target level upto you guys as it can really big .
This is only for educational purpose , excute trade only after doing your own research and according to your risk appetite .
HAPPY TRADING
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