MCX closed at ₹7,918.50 today, after trading in a volatile range with an intraday low of ₹7,683.00 and a high of ₹8,035.00. The session opened at ₹7,683.00, and robust buying near the lows propelled prices upward, though profit-taking near ₹8,035 capped gains. Technicals remain bullish, with MCX trading above all major moving averages and a 14-day RSI at 56.49, indicating a healthy trend without excessive overbought conditions.
The sustained uptrend is supported by consistently higher lows and strong volume, which was notably above its two-week average. Resistance for MCX is now established around ₹8,035–₹8,040, a close above which could clear the way for a run towards the ₹8,400–₹8,700 levels. Support zones are firmly set at ₹7,680 and ₹7,645; a break below these may invite near-term profit booking. Overall, MCX remains in a positive territory, with traders watching for momentum breakouts above resistance and monitoring for any reversal signals at support.
The sustained uptrend is supported by consistently higher lows and strong volume, which was notably above its two-week average. Resistance for MCX is now established around ₹8,035–₹8,040, a close above which could clear the way for a run towards the ₹8,400–₹8,700 levels. Support zones are firmly set at ₹7,680 and ₹7,645; a break below these may invite near-term profit booking. Overall, MCX remains in a positive territory, with traders watching for momentum breakouts above resistance and monitoring for any reversal signals at support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.