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The stock of Cummins India confirmed an ascending triangle pattern last week. While this pattern indicates bullish continuation struggled a bit to breach ₹1,615 for the past few weeks. However, on Wednesday, it gathered enough strength and broke out of ₹1,615.
Thus, Cummins India can be considered for fresh long positions, especially for intraday on Thursday. So, traders can go long in this stock with stop-loss at ₹1,608. Book profits when the price touches ₹1,675. In case the stock opens with a gap-up, wait for the price to dip to ₹1,630 and then buy. On the other hand, refrain from trading if it begins the session below ₹1,610.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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