Stop Loss: Rs 4,600
Target: Rs 5,380
Cummins India has delivered a strong breakout above the 4,720 resistance zone with expanding volumes, signalling renewed bullish momentum and continuation of its broader uptrend. The stock is trading well above its 9, 15, and 21 EMAs, indicating strong short-term trend alignment, while the positively sloping 200 EMA confirms long-term strength. ADX near 36 reflects a strengthening trend, and RSI around 75 highlights powerful momentum, though slightly near overbought territory. The formation of higher highs and higher lows supports a bullish structure, suggesting potential upside.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
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