padiyaraa
Short

MCX trading in a descending triangle.Pitchfork Trigger line supp

NSE:MCX   MULTI COMMODITY EX
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22
224 14
MCX' trading in a descending triangle . A pitchfork channel and its trigger line is broken two times.
Strong resistance at 1139. A break below 1030 MCX' can come down to 900 again.

That is the technical view. Now the fundamental says that,only a 100% rise in the profit can change the scenario soon. :D
Comment: Wait for 900 zone from (930 on wards) for support
Comment:
Comment: reaching to the said support level
Hi,
At what level should i enter MCX to buy as per CMP and current trend.
Reply
padiyaraa butterfly87
@butterfly87, now...
now it is time to enter MCX
keep a stop in mind 833
Reply
butterfly87 padiyaraa
@padiyaraa,
ok Thanks.
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Hi,

Request your thoughts on MCX as on date? Also the comments on the left of the chart are hidden. Is there a possibility to move this to a more visible place on the chart.
Reply
padiyaraa SilverSurrferr
@SilverSurrferr, Those comments in grey shades are actually part of previous post, and not important for the updated chart.
MCX supported well at the marked level. we are in down trend now, may go down to 900.
Reply
Wait for 900 zone from (930 on wards) for support
Reply
Can you have a look at Equitas holding and let me know your views for short to medium term outlook?
Had entered assuming it to be a break out from symmetrical triangle, but patter seems invalidated.

Reply
padiyaraa sausawan
@sausawan, EQUITAS is trading in a symetrical triangle , have strong resistance at 160 are
and may come down to 145 range support.



Instead, why dont you look at IIFL

You will see 750 soon and double your money in an year.

Sorry delay.
Reply
sausawan padiyaraa
@padiyaraa, THanks Sir for your wonderful insight and help. Appreciated !!
Had taken a position @ 182 assuming it to be a symmetric triangle breakout, but it came down crashing.
Still learning technical analysis. Trail and error :)
Reply
Sir,
What is your current view on MCX? Seems to have broken the upper resistance line. Can it go to 1250 from here?
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