Short term swing trade (B): Capital Goods stock | Indian stock trading signal on 21 Apr 2026

NOTE

Closing Price: ₹5,200 (as of Apr 20, 2026)
StopLoss*: Apply on the daily close. After the first target, reset the StopLoss to your buying price.
Duration^: Approximate holding period based on the active trading days (excluding market holidays). Actual holding may vary with the market conditions.
Upside Potential#: Based on median of the suggested buy range.

Cummins India Limited, founded in 1962 and based in Pune, designs, manufactures, and services engines, generator sets, and power solutions. It operates mainly in two segments, Engines and Lubes. The company offers diesel, natural gas, and hydrogen engines, along with power systems and engine components. It also provides drivetrain systems, emission solutions, and digital technologies, serving industries like infrastructure, healthcare, telecom, mining, and defense. It operates across India, Nepal, and Bhutan and exports to global markets, and is a subsidiary of Cummins Inc..

Website: https://www.cumminsindia.com/

Q3 FY26 Earnings Call Summary & Financial Highlights

Earnings Call Summary

Cummins India reported a mixed quarter: revenue was largely flat to slightly lower YoY at about ₹3,006 crore, but profit before exceptional items still grew 7% YoY to ₹719 crore, showing decent operating resilience.
Domestic demand remained supportive in many areas, but the power generation segment was softer, and exports were still subdued, which limited overall topline growth.
Profitability before exceptional items held up well, but reported profit after exceptional items was lower, with PBT after exceptional items falling 12% YoY to ₹593 crore.
Management’s tone stayed constructive, and the company reiterated double-digit revenue growth guidance for FY26, supported by domestic demand drivers such as infrastructure, rail capex, and data center opportunities.
Overall, the message from the call was that the core business remains steady, near-term exports may stay soft, but the medium-term outlook is still positive.

Financial Highlights

Metrics	DEC FY25 (₹ Cr)	SEPT FY25 (₹ Cr)	QoQ Change	DEC FY24 (₹ Cr)	YoY Change
Revenue	3,055	3,170	-3.60%	3,096	-1.30%
EBITDA (Operating Profit)	634	695	-8.80%	598	6.00%
EBITDA Margin (%)	21%	22%	-100 bps	19%	+200 bps
Net Profit	486	622	-21.90%	558	-12.90%
EPS (₹)	17.53	22.45	-21.90%	20.15	-13.00%

Price Performance & Volume Analysis

Price Performance

Volume Analysis

Technical Analysis

Key Observations

The stock price is in an uptrend, moving within an ascending parallel channel, and this momentum is likely to continue in the near term.

For anyone seeking stock trading advice for short term trading, identifying strong support and resistance levels is key.

Technical Image - Daily Timeframe

Technical Indicators

Oscillators

Indicator	Value	Zone
RSI-14	66.14	Neutral
CCI-14	177.45	OverBought
MFI	77.38	Neutral
ROC	24.82	Positive
Stochastic %K	92.53	Bullish
William %R	-4.28	OverBought

Exponential Moving Averages (EMAs)

EMA	Value	Stock Position
5 EMA	1782	Above
10 EMA	1724	Above
20 EMA	1672	Above
50 EMA	1606	Above
100 EMA	1521	Above
200 EMA	1342	Above

Conclusion

Cummins India Stock Price Forecast

Based on our swing stocks in India, the Cummins India stock price target will be INR 5400 - INR 5450 in the next 12-14 trading sessions.

MONEY MANAGEMENT AND TRADING RULES

Buy within the recommended price range. You may allow up to 1% flexibility beyond the range if needed.
No need to rush. The recommendation remains valid for up to 7 days, not just at market open.
Use a trailing stop-loss to protect and lock in profits.
Diversify your trading capital across our other recommended stocks to reduce risk.
Invest responsibly. Trade only with funds you can afford to lose and hedge positions where appropriate.

Analyst Summary

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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