MCX recommended on 29 may at price of 963 for target of 1065-1070 achieved its target very fast.
http://marketview123.blogspot.in/2016/05/mcx.html
Now its time to review its charts for time ahead. On weekly charts stock is now given a fresh break out for targets of 1280.
1289 is the previous high and 261.8 % extension for the rally started from 725. Sustaining above 1070 will surely open the doors for 1280. This time stop loss can be trailed to 1000 on closing basis.
Besides all this trading set up i strongly believe that the stock is very good to be hold for very very long term in any one's portfolio. With NSE issue coming in this FY itself and valuations it is getting in the stake sell by IFCI and SBI the MCX stock is at very attractive levels.
Disclosure: I am not a SEBI certified analyst so please consult your financial adviser before acting on this call. Further i am holding this stock in my folio so i have financial interest in the stock.
http://marketview123.blogspot.in/2016/05/mcx.html
1289 is the previous high and 261.8 % extension for the rally started from 725. Sustaining above 1070 will surely open the doors for 1280. This time stop loss can be trailed to 1000 on closing basis.
Besides all this trading set up i strongly believe that the stock is very good to be hold for very very long term in any one's portfolio. With NSE issue coming in this FY itself and valuations it is getting in the stake sell by IFCI and SBI the MCX stock is at very attractive levels.
Disclosure: I am not a SEBI certified analyst so please consult your financial adviser before acting on this call. Further i am holding this stock in my folio so i have financial interest in the stock.
What can be entry level bro? With stoploss 1000.?
ReplyDeleteCMP of 1070 is the level for fresh buy and if dips to 1040 can add more. Keep 1000 sl and ride it for 1280 before budget 2017
ReplyDelete