63 Moons zooms 52% in 5 days 63 Moons zooms 52% in 5 days as MCX extends support service for 6 months
Meanwhile, shares of MCX slipped 12 per cent to Rs 1,437 on the BSE.
Shares of 63 Moons Technologies hit a fresh 52-week high of Rs 256.20, as they rallied 18 per cent on the BSE in Friday's intra-day trade after Multi Commodity Exchange of India Ltd (MCX) once again extended the software support contract with the company for a quarterly fee of Rs 125 crore. In past five trading days, the stock has zoomed 52 per cent.
"We have once again agreed to the eleventh-hour request by MCX, which according to MCX is for the 'last time' for one more time. This new arrangement of Software Support Service will be from commencing from 1st July 2023 to 31st December 2023 (both days inclusive)," 63 Moons Technologies said in an exchange filing. The company is also the founder and former promoter of the bourse.
MCX trade ideas
MCX for 1700 LONG!Attached: MCX Daily Chart as of 21st June 2023
Price has a Pending Upside Target of 1700 as per the Inverted Head & Shoulder Breakout
So far the Price has been rallying in a Channelized manner and respecting the Moving Averages
Today Price resumed its Up Move breaking out for 3-4 day consolidation
And so the Journey up to 1700 shall resume from here
Holding 1560 as Stop Loss
Upside Target = 1700
MCX chart studyMCX SPOT CMP 1380
240 mins time frame.
Chart pattern study.
Symmetrical triangle pattern fromation.
Breakdown confirmed around 1440-1450 levels.
Descending triangle pattern formation, demand zone around 1340-1350 levels.
Need confirmation around this demand zone.
Either reversal or either break down would lead to fresh journey for the counter.
This will be conditional view.
[N] Cases of False Breakouts and Minor BreakdownsNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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22nd March || MCX - Intraday Targets AchievedGood evening,
We had put out this Trade Idea pre-market and the Levels were achieved quite quickly during the begining of the day. Even though the markets were extremely choppy and volatile, we just need one good trade a day to make sure we leave the markets in the Green.
Hope you'll had a good day.
TradeRyte !!
MCX - Intraday Trade Levels || 22nd March, 2023 Analysis Criteria Used:
1. Please find the Chart Analysis done for the 22nd March, 2023
2. The analysis for the Intraday Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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