Cummins India Limited (CUMMINSIND) Stock - Complete Technical Analysis - Sep 17, 2024

Cummins India Stock Analysis: Key Support & Resistance Levels Technical Insights for September 20

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Cummins India Limited (CUMMINSIND) Technical Analysis

As of the latest update, Cummins India Limited is trading at approximately 3846. This price is about 7.81% below its 52-week high of 4172, recorded on June 25, 2024, and 132.62% above its 52-week low of 1653.3 from September 29, 2023.

Support and Resistance Levels:

Immediate Support: 3677.58 (Classic Pivot) and 3692.45 (Camarilla S1)

Immediate Resistance: 3996.12 (Classic Pivot R1) and 3796.95 (Camarilla R1)

Technical Indicators:

MACD: Currently showing bullish momentum, indicating positive market sentiment.

RSI (Relative Strength Index): At 55.18, suggesting the stock is neither overbought nor oversold, but on the higher end of the neutral range.

ADX (Average Directional Index): At 10.21, indicating a weak trend strength; the market might be consolidating.

Stochastic %K: At 66.03, which is in the bullish zone, indicating potential for further upward movement.

Stochastic RSI: At 68.02, reflecting bullish momentum and potential for continued strength.

Commodity Channel Index (CCI): At 55.79, suggesting a bullish trend.

Awesome Oscillator: At 49.3, indicating bullish market conditions.

Williams Percent Range: At -21.24, suggesting the stock is in the bullish range.

Ultimate Oscillator: At 54.87, reflecting a moderately bullish trend.

Moving Averages:

Short-term MAs: The stock is above its 10-day, 20-day, and 30-day EMAs and SMAs, indicating a positive short-term trend.

Long-term MAs: The stock is well above its 200-day EMA and SMA, reflecting a strong long-term uptrend.

Chart Patterns:

Inside Candle Pattern: Identified on September 11, 2024, within a range of 3746.0 to 3862.9. This pattern often signals potential consolidation or a reversal.

Volatility:

Average True Range (ATR): Recent ATR values show moderate volatility, with a 14-day average of 150.65, suggesting that price swings are relatively stable.

Overall, the stock shows strong bullish signals supported by several indicators, though trend strength is weak. Traders should watch the immediate support and resistance levels for potential breakout or breakdown points.