MCX trade ideas
MCX and the EW CountsCMP: 6530
MCX is one of the best stocks I have come across in recent times to study/practise EW counts.
Such a wonderful set up with multiple sub-divisions playing out perfectly.
The chart published here is the 5 wave impulse from 2917 levels.
We are at the final 5th and this can either extend or terminate anytime depends on the market conditions. Since the 5th has gone past the 3rd wave high, technically, we can mark the 5 wave has ended here. The possible extension targets are marked in blue dotted lines.
Breakout of the falling trendline of the recent fall from 7050 would give us confirmation
If it breaks the 2-4 trendline (RED), then can safely assume that the uptrend has ended on this impulse.
Here is the chart on weekly TF
Here is the larger TF count for positional investment view
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
MCX - Do you still want to chase FOMO?
CMP: 6920
TF: Daily
The current impulse from 2917.85 is on the fag end of the 5th move, and it could end/terminate anytime.
Divergence seen on daily, although another 5-10% move on the upside cant be ruled out.. But be sure if you want to chase the price at this level just because of the latest price action moves.
Just so can see, larger degree 5th is also in play now.. so, once this move is over, the pullback will be a bit deeper (retracing the entire move from 1140 level to 7K levels)
Waves 0-1-2-3-4 Path with internal counts
Investors - Trail your SL with tight SL
Traders - Dont jump, better to wait for the right opportunity (significant weakness followed by a bounce is the ideal time to go short)
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
Multi Commodity Exchange (MCX)MCX presents a compelling buy opportunity based on the formation of a Bottom Rounding Pattern, a bullish reversal signal indicating a transition from a downtrend to an uptrend. The stock has broken above the key resistance level of ₹6800 with strong volume, confirming the breakout. The height of the pattern suggests a long-term target of ₹9600, offering an upside potential of approximately 39%. For swing traders, an entry at ₹6920 or on a pullback to ₹6800, with a short-term target of ₹7200-₹7500 and a stop-loss at ₹6650, provides an excellent risk-reward ratio of ~1:10. Positional traders can aim for the full target of ₹9600, holding for 3-6 months. Volume spikes during the breakout further validate the pattern, while the strong support at ₹6800 minimizes downside risk. Despite potential market volatility, the technicals and breakout strength make MCX a strong buy candidate for both traders and long-term investors.
MCX - 2 Months Consolidation Breakout - All Time HighMulti Commodity Exchange of India Ltd
1) Time Frame - Daily.
2) The Stock has been in a Consolidation since (October, 2024). Now, It has given a Consolidation breakout & Closed at it's Life Time High with good volume & good bullish momentum candle in Daily Time Frame.
3) The stock may find it's next resistance around the price (7900 - 14.15% from the current price 6920) .
4) Recommendation - Strong Buy .
Is correction over in MCX?In the 75-minute chart in MCX, we can see that flat correction is going to be finished.
This can be expected as the 0-B trend line breaks in less than half a time. (See that the lowest point from the trend line is formed in 25 candles, and the trend line is broken in 10 candles.)
This is the primary indication of the end of correction.
A risky buying opportunity exists at the current market price. The stop loss for this will be below the end of wave C, i.e., below the 5820 level.
This is not a buying recommendation.
Please always do your own research before you take any trade.
This analysis is based on Elliott wave theory and Fibonacci.
This analysis is for educational purposes only.
MCX - Breakout Setup, Move is ON...#MCX trading above Resistance of 6457
Next Resistance is at 7809
Support is at 5105
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
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.
MCX - Breakout Setup, Move is ON..#MCX trading above Resistance of 5182
Next Resistance is at 6457
Support is at 3980
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
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.
VIEW ON MCXGood chart structure
Stock is in a continuous up move
Buy on dips
Target 6500/6800
Stop loss 6150
I am just representing my views
For educational purpose only.
MCX - Retracement ?After a good rally the past week, a retracement to its demand zone would be healthy. Initial price action in the first few hours would determine if it followed the existing momentum or turns around for the retracement.
MCX // Levels // 1h"Welcome to SkyTradingZone "
Hello Everyone 👋
For Multi Commodity Exchange (MCX) on the 1-hour timeframe, here are the key support and resistance levels:
Support Levels:
First Support (S1): Around ₹6,100
Second Support (S2): Around ₹6,050
Resistance Levels:
First Resistance (R1): Around ₹6,200
Second Resistance (R2): Around ₹6,250
MCX // Levels // 1 hour "Welcome to SkyTradingZone "
Hello Everyone 👋
Here are the current levels and analysis for MCX (Multi Commodity Exchange) in a 1-hour time frame:
Current Price: 6,140.00
Resistance Levels:
6,200.00 (short-term resistance)
6,250.00 (medium-term resistance)
Support Levels:
6,100.00 (short-term support)
6,050.00 (medium-term support)
Analysis:
MCX is trading within a narrow range of 6,050.00 to 6,200.00.
The index has been trending upwards in the past few days, but it's currently consolidating.
The short-term resistance level at 6,200.00 is a strong level that MCX needs to break above to continue its upward momentum
MCX Short Term TradeThe stock has been in an overall uptrend
The volume shows an overall bullish strength
A small rising wedge pattern has been formed
atr had been falling throughout the pattern
On breakout a sharp rise in atr and volume is seen
Thus, there is a short term trade
tgt 5440, sl 4997
MCX Perfect pullback tradeThe stock is moving in up-sloping channel currently has taken support at its 9 days EMA.we could see furthermore buying action, follow-up buying action in the coming week,hence, one could take position on this stock for the target of 5500 and keep SL at 5200.
MCXtriangle squeezer BO pattern
there were two zone created for resistance and support both are clearly highlighted
Multi Commodity Exchange of India Ltd - Long Setup, Move is ON..#MCX trading above Resistance of 3056
Next Resistance is at 5182
Support is at 1722
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
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.
MCX (EDUCATIONAL PURPOSE ONLY)There is no guarantee in Stock market and Nothing over week.
STOCK TO STUDY (EDUCATIONAL PURPOSE ONLY, NOT BUY OE SELL RECOMMENDATIONS)
Multi Commodity Exchange of India Ltd.
TARGET RS 4870
CMP RS 4636.35
ENTRY RANGE RS 4590-4685
STOP LOSS RS 4302
Disclaimer: I am not Sebi Registered.
MCX short term and long term viewHey !!!
This MCX is almost at the support level and might reverse for a 5% up move in short term and medium term 14% return. focus on the bottom yellow marker as support zone. Below which is a downtrend.
MCX: Trading Near All Time High!MCX: Trading Near All Time High!
Patterns: Darvas Box Breakout with Rounding Pattern Formation
Volume: Wait for Strong Volume
Price Targets: 4500 / 4750 / 5000 / 5350++
Stoploss: 4075 DCB
Disclaimer: For Educational Purpose Only
Inverted head & shoulder breakout in MCXThere is a breakout of inverted head and shoulder neckline in MCX daily chart. One can enter by keeping stop loss at low of breakout candle. I am not strong bullish so I've entered this trade with low risk.
