CUMMINSIND reaching Major Structure Zone (Yellow) which has been a support now acting as resistance.
Tested and failed in September' 19 & January' 20
In Confluence with below
1). Weekly timeframe - 0.886(Bearish Bat) & 1.618 AB=CD Patterns PRZ converging within 610-630 zone
2). RSI 70.64
3). Monthly timeframe - touching 0.382
Targets 1 - 485 2 - 406
Komentar
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Harmonic pattern respected
Trade aktif
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Cummins India short. CMP : 607 Target 1: 585 Target 2 : 573 Target 3: 560 Target 4: 510 Swing trading in 1 he time frame. Trade like voltas. Buy 600&/550 PE AS POSITIONAL FOR FEW Days or 650 PE for intraday only if volume and liquidity present. Can hold monthly options till 15 of month or exit on fridays. Renter on Monday according to risk appetite