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Multi Commodity Exchange of India LimitedMulti Commodity Exchange of India LimitedMulti Commodity Exchange of India Limited

Multi Commodity Exchange of India Limited

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MCX trade ideas

MCX* On the daily chart stock price has decisively broken out from its multiple resistance zone and symmetrical triangle on closing basis and sustaining above the same. * This breakout is accompanied with increase in volume which supports bullish sentiments ahead. * The daily as well as weekly strength indicator RSI and the momentum indicator Stochastic both are in positive territory which supports upside momentum to continue in near term. * Stock price is sustaining well above its 20,50 and 100 day SMA which supports bullish sentiments ahead. * The above analysis indicate an upside of 873 - 889 with stop 808 #Findyourtrade
NSE:MCXLong
by R_A_G_A_S_J
MCX : Log Scale Breakout with VolumeMCX is on the verge of breakout on log scale. Today's close above 835 would be the confirmation of breakout. Volume is increasing in last few days and today's volume has crossed last 20-25 sessions daily volume. 833.40 is a resistance zone from it had corrected last time. Stop loss of buy would be 760 for 1st target of 920. However, log scale breakout is a major event on long term chart and we can see it as a trend reversal point. Our Take :Buy only on daily close above 835 with stop loss below 760 and hold for 12-18 months.
NSE:MCXLong
by UnknownUnicorn4260559
MCX : Wait for trend reversal on log scaleWeekly chart is showing reversal on nomral chart as the price has broken out of falling trend line with volume and moving average cross over (13 EMA crossed 26 EMA to upside). Log scale is showing that price has still not broken out of falling trendline and counter has reversed from the resistance line. 834 stand as a major resistance which must be observed to confirm that counter has started upmove for a longer term. Daily close above 834 would be positive for levels of 930 and 1100 but till the time long term investor should wait and watch
NSE:MCX
by UnknownUnicorn4260559