MCX broke above multiple resistance zone of 1303-1313 & looks like its closing above resistance level with very good volumes.
Could be bought with mentioned stoploss & targets.
we are long mcx above 1444 maintain sl below 1372 short term target-1655+ long term target - 2000+
risk - 72 points
rewards - 211 short term
rewards - 556 long term
always maintain risk to rewards
Target Open 1500+
PE Ratio has fallen
Mutual Funds have increased holdings from 29.63% to 30.51% in Jun 2022 qtr.
FII/FPI have increased holdings from 26.52% to 26.84% in Jun 2022 qtr.
Institutional Investors have increased holdings from 74.85% to 75.44% in Jun 2022 qtr.
Significant correction (>40%) from the top for a monopoly platform name
Cheapest amongst the platform stories. Should be added to portfolio here and on dips
Trade setup:
Weekly: Multi-year breakout (with cup & handle pattern), consolidation and breakout again (with bullish Marubozu candlestick & huge volumes). Crossed resistance @1880 INR approx. and sustained. One can also consider flag and pole breakout pattern. Trading above 50EMA and 200EMA (sloping upwards).
Entry = CMP ie; 1922 INR (any dip until 1780 INR is a...
MCX is given breakout on a larger time frame. MCX buy above 1401, CMP 1431. Target-1448, 1467, 1485,115,1537
SL below 1321 or 1355.
As MCX breakouts on smaller timeframe also, you can take position at CMP. If it falls till 1400, then accumulate in triangle pattern. After that wait for target or SL. Novice trader, please keep your position size small.
I was looking at MCX on the 1h TF and observe that price has crossed the cheap entry zone as per the ProTrader script. I have seen that on many occasions, when the levels are drawn, price attempts to reach at least the first marked level. I think this time also it will do so.
For the curious, the levels are based on Fibonacci sequence and are automatically...
Falling Wedge Pattern
With a target Price of 1835 and SL of 1348
Which is 27% Returns Which can expect in next 3 months time
Stock is in a great Key level
Stock is one of the largest holdings with DII
MCX 1W: Retested BO. Forming a channel. Trying to bounce from oversold zone. Good to watch whether it is cat bounce or bounce to go further dip. Bias is Neutral.
