Cummins India (BUY, above Rs789, Target Rs815): On Tuesday, in a declining market, the stock advanced on decent volumes from the support of its critical 50-DMA. Since July 2009, this important moving average has provided good support to the stock on every decline. It now faces a resistance at Rs830 levels and should have a minimum upside till that level. Based on above technical evidences and a positive crossover in other momentum oscillators, we recommend traders to buy the stock above Rs789 with stop loss of Rs778 for a target of Rs815.
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