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Cummins to remain firm
Deepak Singh Tanwar
Cumins had shown a technical correction in the last few months. However, for the past few days, the stock has been showing signs of consolidation. The formation of a higher bottom is a pointer to that. The first bottom was formed at Rs 519 whereas the second bottom can be considered at Rs 529.Meanwhile, volumes have also shown an improvement. Same is the position of oscillators like RSI and MACD. Overall, the outlook appears positive. The move is likely to accelerate above Rs 565. One can take a long position at the current levels. For short-term, the level of Rs 529 should be used as a stop loss. As for medium term players, the level of Rs 519 should be used as a stop loss. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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