Cummins India Limited Stock Forecast
Cummins India Limited stock price up 0.238% on Friday
(Updated on Apr 26, 2024)
The Cummins India Limited stock price gained 0.238% on the last trading day (Friday, 26th Apr 2024), rising from ₹3,231.75 to ₹3,239.45. During the last trading day the stock fluctuated 1.50% from a day low at ₹3,208.95 to a day high of ₹3,257.20. The price has risen in 7 of the last 10 days and is up by 10.27% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹8.78 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹3,274.07 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 35.16% during the next 3 months and, with a 90% probability hold a price between ₹4,123.91 and ₹4,425.38 at the end of this 3-month period.
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CUMMINSIND.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.162%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Cummins India Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹3,167.54 and ₹2,942.73. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Cummins India Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹2,766.05 and ₹2,603.70. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cummins India Limited finds support just below today's level at ₹2,766.05. If this is broken, then the next support from accumulated volume will be at ₹2,603.70 and ₹2,585.65.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹48.25 between high and low, or 1.50%. For the last week, the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: ₹3,133.90 (-3.26%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CUMMINSIND.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Cummins India Limited to open at ₹3,235.20, and during the day (based on 14 day Average True Range), to move between ₹3,157.39 and ₹3,321.51, which gives a possible trading interval of +/-₹82.06 (+/-2.53%) up or down from last closing price. If Cummins India Limited takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,244.70 (0.16%) than the support at ₹2,766.05 (14.61%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Cummins India Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cummins India Limited stock to perform well in the short-term.
Current score: 1.922 Buy Candidate Unchanged
Predicted Opening Price for Cummins India Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹3,235.20 ( 0.131%) | ₹3,239.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUMMINSIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,283.45 | 1.36 % | |
| R2 | 3,265.02 | 0.789 % | ||
| R1 | 3,253.63 | 0.438 % | ||
| Current price: | 3,239.45 | |||
| Support | S1 | 3,216.77 | -0.700 % | |
| S2 | 3,205.38 | -1.05 % | ||
| S3 | 3,186.95 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 3,244.70 | 0.162 % | ||
| Current price | 3,239.45 | |||
| Support | S1 | 2,766.05 | -14.61% | |
| S2 | 2,603.70 | -19.63% | ||
| S3 | 2,585.65 | -20.18% |
CUMMINSIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Mar 06, 2024 | ₹18.00 | 0.646% |
| 2 | Jul 26, 2023 | Jul 26, 2023 | Aug 31, 2023 | ₹13.00 | 0.763% |
| 3 | Feb 21, 2023 | Feb 21, 2023 | Mar 08, 2023 | ₹12.00 | 0.719% |
| 4 | Feb 15, 2018 | Feb 15, 2018 | Mar 01, 2018 | ₹5.00 | 0.622% |
| 5 | Jul 27, 2017 | Jul 27, 2017 | Sep 01, 2017 | ₹9.00 | 0.99% |
FAQ
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