MCX has gained 5% of NSE with thrice its average volumes Kijung and Tanken above ichimoku cloud and stock trading above all of these with positive bias. Seems to be heading towards 895.
Buy MCX on NSE around 833 with Stop-loss of 797 and Target of 895
It is been observed on the weekly chart that the price action breaking out from a downward trendline indicating bullish move ahead. It shall further resumes the trend and shall further move up to the previous resistance levels. This setup can also be called as positional trade setup where you hold trades for weeks and months.
Target 1: 700
Target 2: 760
Stoploss: 590
After a strong move and a consolidation face IDEA has formed a FLAG pattern. Now the prices have given breakout from it and likely to move up till the height of the Pole. So the target for the script could be around 150 or levels
As shown on the weekly chart, RCF is about to complete a 8 year old symmetrical triangle.
What makes it special is-- there is a good inverted Head and Shoulder price pattern (S-H-S) in last leg.
Breakout is above 54 - 58 zone targeting 130+++
To invest in a good stock, sometimes a simple trend line or trend channel is sufficient to identify an entry point. HDFC Bank stock has been in an uptrend since year 2009. The stock has been correcting from 1310 levels and is nearing first key support at 1120. Lower long term support is at 920. Looking at the prior trend, entry at 1120 looks tempting. Start investing :)
