MCX - Bullish Breakout Opportunity (Daily Timeframe)Stock: MCX ( NSE:MCX )
Trend: Bullish Momentum Building 🚀
Risk-Reward Ratio: 1:3 (Favorable Setup)
Trade Parameters
🎯 Entry Zone: ₹6,200 (Breakout Confirmation)
🛑 Stop Loss: ₹5,531 (Daily Closing Basis) (~10.8% Risk)
🎯 Target Levels:
₹6,515.65
₹6,852.60
₹7,160.00
₹7,479.80
₹7,854.20
₹8,200 (Final Target)
Technical Rationale
✅ Bullish Flag Breakout - Price has broken out from consolidation pattern
✅ Strong Momentum - Daily & Weekly RSI >60 (Bullish territory)
✅ Volume Confirmation - Breakout volume 868K vs previous day's 571K (~52% increase)
✅ Technical Structure - Higher highs and higher lows formation
Key Observations
• The breakout comes with significantly higher volume
• Multiple targets allow for progressive profit booking
• Attractive 1:3 risk-reward ratio
• Strong technical structure supporting bullish case
Trade Management Strategy
• Consider partial profit booking at each target level
• Move stop loss to breakeven after Target 1 is achieved
• Trail stop loss to protect profits as price progresses
• Watch for volume confirmation on upside moves
Disclaimer ⚠️
This analysis is strictly for educational purposes and should not be construed as investment advice. Trading in financial markets involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results. Always conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. The author assumes no responsibility for any trading losses that may occur from using this information.
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