MCX (Multi Commodity Exchange) is an exchange where commodities like precious metals Gold, Silver as well as Aluminium, Copper, Nickel and Crude Oil, Natural Gas Futures and options are traded extensively. It is a safe stock to invest. Since, commodity trading is gaining popularity, it is beneficial for MCX as a mediator.
Technically, MCX has formed Rounding bootom and given breakout above neckline (1515-20) and it retested these levels after some candles and it is currently trading as the neckline support, any dip towards 1480-1450 is good buy (Divide buy quantity in two parts!) with SL 1400 closing basis. Targets could be 1600, 1700 1800++
(Disclaimer: Do your own analysis, not responsible for profit or loss, I am not SEBI registered)
Technically, MCX has formed Rounding bootom and given breakout above neckline (1515-20) and it retested these levels after some candles and it is currently trading as the neckline support, any dip towards 1480-1450 is good buy (Divide buy quantity in two parts!) with SL 1400 closing basis. Targets could be 1600, 1700 1800++
(Disclaimer: Do your own analysis, not responsible for profit or loss, I am not SEBI registered)
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First Target 1600 Done!