Rising from the Ashes: CUMMINS INDIA's Grand Wave 5 Launch?

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After a soul-sucking 11-month correction that chewed through every classic pattern — flats, triangles, zigzags, combos — CUMMINS INDIA may finally be ready for lift-off.

A WXYXZ correction has reached its climax in a clear Wave 4 low near ₹2580, completing the complex structure inside a descending channel.

But the game changed when price:

• Broke the 200 SMA
  
• Blasted through the channel
  
• Punched RSI above 70 for the first time since May 2024
  
• And did it with volume breakout
  

Now, all eyes are on Wave 5 — projected to aim for:

• 1.0 extension: ₹3569
  
• 1.618 extension: ₹3812
  

Can we reach a new ATH above ₹4171? It’s possible — if this unfolds through nested 1-2-3s, we may be witnessing the start of a larger degree rally.

Invalidation: Below ₹2706. If it breaks, the count may need a rework .
For now? Wait until it retraces to launchpad.?

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.

3 thg 6

Ghi chú

Chart with RSI:

3 thg 6

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While the structure remanins bullish and a retracement is expected in wave 4, it could also be a possible 1-2, 1-2 forming within the present wave 3(blue) and sub wave 3(pink) is not complete yet. While the one published might still be the valid count, just to be vigilante, always good to have alternate count. View is still bullish. Question is in how many waves.

24 thg 6

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Update: June 24
Structure still intact. We miht have wave 4 in place and we can expect wave 5 upwards.