Buy IOC, Cummins India, Jain Irrigation, says Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
CUMMINS INDIA - BUY  
CMP: Rs 966.40     
TARGET: Rs 1,070     
STOP LOSS: Rs 920 
 
The stock was in a consolidation phase for quite some time and has now made a breakout above the 950 level making a bullish candle pattern in the daily chart. The RSI indicator is on the rise so also is the MACD and has shown potential to rise further to scale new levels. We recommend a buy in this stock for an upside target of 1070