Get started

MCX

Simple Positional Trade Setup | MCX | short-mid termNSE:MCX Observations: 1) On Daily time frame, we can see now it is back to the level range which was earlier working as resistance and it was breakout level. Now it has come to test this and if it sustain and gets support then this range will work as support level. We can see good bounce back and the bullish up move can re-start again. Please refer below chart : 1day Time Frame. 2) On Daily Time frame again, if we apply FIB RETRACEMENT levels then we can see that it is resting just above the 61.80% level range. There are chances that the down trend will reverse now and the up trend will continue as generally at this 61.80% most of the time retracement of uptrend gets over. Please refer below chart : 1day Time Frame. ----------------------- Positional Trade Setup 1 : One can take long position from CMP with SL of 1750 and target of all above levels. 2 : If one wants to take safe position then one can take position after it gives sustainable breakout of 1855 level. SL will be 1800 and all above levels will be targets. 3 : One can take short position if it give breakdown of 1750 level with SL of 1790 level and target of 1696 and 1650. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels.
NSE:MCX
by Trading_hawk
CRUDE OIL TREND ANALYSISTECHNICAL ANALYSIS In October 2018, Crude Oil prices touched the level of ₹ 5600 on MCX but after that they sharply fall to ₹ 3000 same year in December. Further last year during the lockdown crude oil fell to ₹ 1100 on MCX in April 2020 and rose to ₹ 5600 this year in July 2021. Journey from ₹ 5600 in Oct 2018 to ₹ 3000 in April 2020 and again to ₹ 5600 in July 2021 ( shown in blue colour in graph) confirm the double top pattern with a resistant of ₹ 5600. On October 4th 2021, it gave closing at ₹ 5825 (above its major support of ₹ 5600) for the first time after Oct 2018 that confirmed the upward moment of crude oil. CONCLUSION We do not suggest you to make any fresh short position in crude oil at this level. However, making any long position at this level would also be very risk as the prices are not certain at this level, however levels around ₹ 6500 can be seen very soon in crude oil on mcx.
MCX:CRUDEOIL1!Long
by moneymarine