MCX gone now, Positional Target 400 activatedMCX Positional sell at 711, stop loss 900, carry for 4-7 months, Target 400. If any Investment then exit.
MCX trade ideas
MCX Inside bar Tradebuy if it breaks PDH with stoploss at PDL
sell if it breaks PDL with a stoploss at PDH
MCX Breakout for Upside MomentumLong if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
MCX LongAlthough market conditions are not favorable right now despite that stock is showing strength in a weak market. Buy as per your risk appetite.
Initiate a Long Trade on MCXInitiate a Long trade on MCX, from 823, SL @ 816, Targets (1) 830, (2) 838, (3) 845, (4) 849, (5) 858, (6) 864
MCX - buy SL 750. Waves hint Next move up should be explosiveIf wave counts right a iii of 3 or C coming up soon
Short MCX @ 798 With 814 SL and 780/ 750 targetsTraders could short mcx with above mentioned targets.
If gap down, dont short immediately.
MCXStock has been facing resistance from trendline; also on Weekly chart stock has failed to cross RSI 60 for past 18 months;
If market sentiments remain week tomorrow as NIFTY is also facing resistance at 11,400. MCX should see a sharp fall SL 890 - 1st target 846
Risk - 1) News on merger with NSE 2) MCX has been showing strong volume so quaterly results were strong. SL should be tight in case of breakout
