MCX, This is looking weak if this important support is broken
MCX has tested 1450 levels multiple times in last 9 months. This is very important level as it acted as resistance in past (2019-2020).
If this level is broken tomorrow and manages to close below 1445, then more fall can be expected.
How to trade this setup
1. If this opens above 1460 & cross this selling level - This is ideal case and once can initiate trade with proper risk management.
2. If this open below 1460 but above 1450 - Wait for stock to either break 1450 and sustain on 15 min before trading it.
3. If this open below 1445, wait for it to retrace atleast to 1455 before any trade is initiated.
Thanks
Piyush Gupta
Learn & Earn
If this level is broken tomorrow and manages to close below 1445, then more fall can be expected.
How to trade this setup
1. If this opens above 1460 & cross this selling level - This is ideal case and once can initiate trade with proper risk management.
2. If this open below 1460 but above 1450 - Wait for stock to either break 1450 and sustain on 15 min before trading it.
3. If this open below 1445, wait for it to retrace atleast to 1455 before any trade is initiated.
Thanks
Piyush Gupta
Learn & Earn
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Only way to succeed in stock market is by learning Price Action.
WhatsApp : 9717077198
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