M C X MCX fut is trading inside squeezed triangle pattern & on BBands on an hourly charts with decrease in OI suggesting short covering.
Risk:Reward = 1:2
Could be bought with mentioned stoploss & targets.
Not to b missed breakout.
MCX at technical support.MCX taking support at 50% fib retracement. daily RSI presently at 60 Support with strong weekly and monthly RSI. Positive reverse divergence can also be seen. A green candle from here will confirm entry into the trade. We can trace the trade till last swing high.
MCX FUTMCX FUT made double bottom pattern on an hourly chart by breaking above 1375.25 with good OI.
Could be bought with mentioned stoploss & target.
mcx mcx channel reversal seen buy mcx above 1431 add more if get 1373 closing stoploss below 1339 target 1523-1634-1695-1841
#MCX POSSIBLE TO SELL#MCX trading 1275 formed bearish pattern,
Today trading our retracement level,
we can sell below 1260 and tgt 1230
SL: LIVE
#MCX possible to buy#MCX trading 1264.75 formed bullish pattern,
Today trading our retracement level,
we can buy above 1283 and tgt 1320
SL: LIVE
#MCX possible to buy#MCX trading 1217 formed bullish pattern,
Today trading our retracement level,
we can buy around 1200 and tgt 1240
SL: LIVE
#MCX possible to buy
#MCX trading 1403 formed bullish pattern,
Today trading our retracement level,
we can buy around 1402 and tgt for 1429
follow SL 1383
Question on MCX futuresQuestion on MCX futures
Trading in a Wedge.
Currently near resistance of 1570-1581
If sustains above it may bounce towards 1700
Todays low around 1430 should give it some support
See all ideas
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Frequently Asked Questions
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for MCX FUTURES. Today its technical rating is strong buy, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of MCX FUTURES technicals for a more comprehensive analysis.
The current price of MCX FUTURES is 4027.45 INR — it has risen 3.27% in the past 24 hours.
The volume of MCX FUTURES is 3.57 M.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For MCX FUTURES this number is 2.46 M. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for MCX FUTURES shows that traders are closing their positions, which means a weakening trend.