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Investors with a short-term perspective can sell the stock of Cummins India at current levels.
The stock had encountered a key resistance at ₹425 in late April this year and began to decline, resuming the medium-term downtrend. For the past one month, the stock has been in a short-term downtrend.
On Monday, the stock plunged 6.3 per cent accompanied by above average volume. This has strengthened the downtrend.
The short-term outlook is bearish for the stock. It can continue to trend downwards and reach the price targets of ₹304 and ₹297 in the upcoming trading sessions. Traders can sell the stock with a stop-loss at ₹324 levels.
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