MCX bulldex FUTMCX bulldex is moving in uptrend in a parallel channel pattern. so Buy on Dip and Sell on Rise for a simple 60 to 80 points profit.
1 point = ₹50 x number of lots
MCX
MCX BULLDEXTrading near resistance and showing the signs of reversal. Keep this in your watchlist and Go long If it breaks upward and Go short if it takes rejection. My view is bullish for now so I'm not providing the short path
MCX Commodities Composite Index H&S BreakoutMCXCOMPDEX, MCX Commodities composite index has broken out of its long term Head & Shoulders pattern indicating strength in commodities. If this breakout continues, we can expect prices of major commodities (gold, silver, crude, copper etc.) to give good up side in coming weeks and months.
MCXMCX gave a good breakout with decent volume and good potential for the long side.
Buy- CMP
Target- 2066, 2100
SL- Buy on dips.
MCX GOLD ANALYSIS - Short CallGold on MCX is very bullish this month. Since October 1st, Gold rallied from ₹ 45800 to ₹ 47800 today on MCX. Gold has a major support at 47850. Currently Gold is trading around 47800
Conclusion
If you are a trader then you can have a short term short call in Gold, target can be seen upto ₹ 47400. Make a strict stop loss of ₹ 47880
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.
MULTI COMMODITY EXCHANGEInverted Head and Shoulder formation clearly visible.
On the verge of breaking out of the channel.
MCX breakoutMCX can be added here for long.
Sl below closing of support on weekly closing basis.
Volume has been great at breakout.
MCX metldex analysis for Nov FUTMetal index may open Gapup for 1 more day but anyhow it will have to come down so Shorting may be beneficial for short term
MCX Breakout from Rectangular ChannelMCX has broken out of its rectangular channel resistance zone of 1900 on the daily chart. The candle formed is a Doji at very high volume. The break out signals are not very clear yet and therefore be wary of buying at the breakout yet. Better to wait for a pullback and buy at continuation.
Silver MCX looks promisingSilver MCX looks promising at this level
After several attempt to break trend-line it is
once again at the level, RSI crossing 50 levels
If breakout occurs and stays above the Resistance we may see level around 63100-64800.
However if failed, reversal happens from this level! then nearest
support will be around 59950-58890.
Thanks
MCX GOLDEN CROSS OVERThe golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside and is interpreted by analysts and traders as signaling a definitive upward turn in a market. ... Basically, the short-term average trends up faster than the long-term average, until they cross.
Breakout in Multi Commodity Exchange (MCX)...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Target 1 (15%) achieved in MCX. Target 2 is ON...This is follow-up on MCX. Can check link to related ideas.
Target 1 achieved. More than 15%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
STOCK ANALAYSIS MCXGood evening friends we are sharing our opinion on MCX. LEVEL TO WATCH IS 1875 ON UPPER SIDE AND 1737 ON LOWER SIDE. For details kindly watch video.
Regards.
MCX GETTING CHARGED UP FOR THE NEXT RALLY?MCX broke it's monthly resistance and has retested it very well and is consolidating for a big movement ( high chances of upside movement ). BUY once it breaks out the trendline resistance on a weekly chart with good volumes.
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Buy Multi Commodity Ex for 4th Week SEP 2021Good buy at current level, possible breakout soon. Maintain an SL of 1545 for min target of 1800.
MCX GOLD TRADINGYellow metal on MCX may remain volatile, traders can take a short positions.
CMP : 46635 at 1:15 (IST)
Stop Loss : 46810
Target : 46225
On th October, MCX Gold DEC Contract made a low of ₹ 46477, which is expected to be broken by today or tomorrow amidst a firmer dollar and a rise in US Treasury yields weighed on the precious metal’s appeal.
Yellow metal will remain under pressure this week.
Buy on dips strategy could work for both the precious metals.
Buy zone above - Rs 46,850 for the target of Rs 47,300
Sell zone below - Rs 46,500 for the target of Rs 46,200
December Gold closing price - Rs 46,757, Support 1 - Rs 46450, Support 2 - Rs 46,300, Resistance 1 - Rs 46,850, Resistance 2 - Rs 47,125.
MCX:GOLD1!
Sell Today Buy Tommorow CallI trade in Indian Commodity Market and provide regulare trading tips.
SELL COPPER on MCX with a STOP LOSS of ₹ 725 for a TARGET of ₹ 700.
Curently copper is trading around 719.
MCX:COPPER1!
Converging TriangleA close look at the chart of CDLS and BSE reveals that both price charts are making the similar patterns OF CONVERGING TRIANGLES. There was also a similar price and volume breakout in the prices of BSE and CDSL charts a few months back. Both the charts are converging, so a breakout in the near future is expected.
The companies such as CDSL and MCX perform similar functions. They serve as depositories. While CDSL is primarily for equities, MXC serves this purpose for commodities. When equities rise, gold will lose value as a good hedge, subsequently trading in commodities will reduce, thus bringing down the turnover in MCX and bringing down its price. In effect, the price charts must show an inverse relation in the charts of MCX AND CDSL. Its surprising to see both the prices rise and hit new highs
Another interpretation is that since the financial and capital markets is garnering never before seen attention, its possible that the increase in both the companies may imply the rising belief and participation of the common man in the markets of both equities and commodities.
