MCX' trading in a descending triangle. A pitchfork channel and its trigger line is broken two times. Strong resistance at 1139. A break below 1030 MCX' can come down to 900 again.
That is the technical view. Now the fundamental says that,only a 100% rise in the profit can change the scenario soon. :D
Hi,
At what level should i enter MCX to buy as per CMP and current trend.
padiyara
⋅
@butterfly87, now...
now it is time to enter MCX
keep a stop in mind 833
butterfly87
⋅
@padiyaraa,
ok Thanks.
SilverSurrferr
⋅
Hi,
Request your thoughts on MCX as on date? Also the comments on the left of the chart are hidden. Is there a possibility to move this to a more visible place on the chart.
padiyara
⋅
@SilverSurrferr, Those comments in grey shades are actually part of previous post, and not important for the updated chart.
MCX supported well at the marked level. we are in down trend now, may go down to 900.
padiyara
⋅
Wait for 900 zone from (930 on wards) for support
sausawan
⋅
Can you have a look at Equitas holding and let me know your views for short to medium term outlook?
Had entered assuming it to be a break out from symmetrical triangle, but patter seems invalidated.
padiyara
⋅
@sausawan, EQUITAS is trading in a symetrical triangle , have strong resistance at 160 are
and may come down to 145 range support.
Instead, why dont you look at IIFL
You will see 750 soon and double your money in an year.
Sorry delay.
sausawan
⋅
@padiyaraa, THanks Sir for your wonderful insight and help. Appreciated !!
Had taken a position @ 182 assuming it to be a symmetric triangle breakout, but it came down crashing.
Still learning technical analysis. Trail and error :)
sausawan
⋅
Sir,
What is your current view on MCX? Seems to have broken the upper resistance line. Can it go to 1250 from here?
At what level should i enter MCX to buy as per CMP and current trend.