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NikunjPurohit
Aug 7, 2018 6:58 PM

MCX Short

MULTI COMMODITY EXNSE

Description

Stock has been facing resistance from trendline; also on Weekly chart stock has failed to cross RSI 60 for past 18 months;
If market sentiments remain week tomorrow as NIFTY is also facing resistance at 11,400. MCX should see a sharp fall SL 890 - 1st target 846

Risk - 1) News on merger with NSE 2) MCX has been showing strong volume so quaterly results were strong. SL should be tight in case of breakout
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