MCX trade ideas
MCX looking good on charts Hello Traders !
I am expecting good upside move in MCX from the mentioned level if sustain .
DISCLAIMER
( Educational Purpose )
All investments involve risk.
Please Do your analysis before initiating Any trade
Good luck !
MCX, CONFLUENCE OF INV HEAD & SHOULDER, FIBO & RESISTANCE AREAMCX has following multiple factors which might push this stock up if this breaches 1751
1. Fibo 78.6% breakout
2. Long term resistance area around 1745-1750
3. Inv Head & Shoulder formation.
If stays above 1750-55 tomorrow, then can move to 1800 & 1820 zone.
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Thanks
Piyush Gupta
Learn & Earn
MCX Consolidating since 5 months.Check the attached link.
After giving a good run up from 1300 levels Stocks is consolidating above previous all time high. Whenever it breaks the box it will give a sharp move.
As the stock is trading in lower half of the box. RR is favorable.
Good volume activity in last few days, strong green bodied candles with volumes in last few days.
View negates below demand zone marked.
Not a Tip/Recommendation
MCX go LONGMCX looks bullish adding new derivative like rubber will give an edge for upcoming trades.
MCX Channel Support 2020-12-08MCX has been trading within a range and has come to the support of the channel. This seems to be the best possible place to buy for short term.
Disclaimer: This is just my personal view. Please do your own research before trading.
MCX near SupportWait for support to come and then with a small stop look for resistance zone above 1700
MCX Profit Booking and retest of breakout areaMCX weekly chart suggests profit booking and it has high probablilty to retest breakout area of INR1400. This dip may create a good buying opportunity near INR 1400.
MCX Postional Long.Since the stock is consolidating at all time high. Looking at the the previous trend it is already given breakout from 1600 levels which was previous all time high.
In consolidation whenever stocks makes higher highs and test 20 DMA , Chances of Breakout are high and stop loss is small. SL will be 1650 on daily close basis
Chart of Week: Pullback Trade in Multi-year BreakoutPullback trade in Double Rounding Bottom Breakout in MCX script in weekly chart. This stock gives around 80% returns in the last one year(TTM-12 month). The commodity market is recovering from slow performance after 2016. This year commodity market outperform his past performance which definitely support MCX stock Multiyear breakout. Atleast 30-35 % up-movement is expected in stock
