Mcx short sellMcx make it high on high and touch to its strong resistance so trader please aware of market in buying side risk to reward ratio is very less for sure to take sell position until it come to support
MCX trade ideas
Breakout on monthly - 80% profitTrading activities are increasing during pandemic and commodities trading turnover are increasing on mcx . This is good for mcx .
Also technically it has given a clear close above breakout level on monthly chart.
I see minimum profit potential of 80% in short term for this stock
R-0018 Bullish chart pattern cross over with huge volume on MCX Intraday Cash Buy MCX @1319.00-1326 SL 1293.7 TGT 1374
R-0003 Break out from ICHIMOKO cloud so look bullishIntraday Cash Buy MCX @1270.40-1274.4 SL 1246 TGT 1325
MCXMcx can be a short at 1220 for a target of 1204 and further target of 1165 for aggressive traders
MCX can hit 1500If MCX closes strong today it may be set for 1500 soon. Shouldn't trade below 1100.
Disc: Invested.
MCX POTENTIAL BULLISH GARTLEY H-1MCX STOCK CHART IS FORMING POTENTIAL BULLISH GARTLEY FORMATION ON H-1 CHART.
ENTRY BUY: INR 988.25
STOP LOSS: INR 932.70
TARGET-1: INR 1057.70
TARGET-2: INR 1100
MCX SELL OPPORTUNITY (DAILY TIME FRAME)MCX STOCK IS TRADING AROUND IT'S ALL TIME HIGH. WE CAN TRADE IT ON SHORT SIDE WITH HARMONIC PATTERN "BEARISH BAT" (AGGRESSIVE APPROACH) OR WITH DOUBLE TOP (CONSERVATIVE APPROACH).
BEARISH BAT PATTERN
SELL ENTRY: INR 1411.90
STOP LOSS: INR 1478.50
TARGET-1: INR 1319.50
TARGET-2: INR 1262.40
DOUBLE TOP FORMATION
CONSERVATIVE TRADERS CAN WAIT FOR RETEST OF IT'S 21-JAN-2020 HIGH AROUND INR 1440 AND AFTER THAT IF MARKET HOLDS THAT HIGH WAIT FOR REVERSAL FOR SHORT ENTRY.
SELL ENTRY: INR 1425-1440
STOP LOSS: INR 50 ABOVE LAST HIGH HELD (SECOND TOP OF FORMATION)
TARGET-1: INR 1320
TARGET-2: INR 1185
MCX 890 || SHORT || INTRADAYSELL below 890 SL 892
Targets 888, 885, 880, 875, 870
OR
MCX 26SEP 880 PE (₹ 37.90)
MCX Manipulation BetThis stock has no future as NSE is about to offer Commodities. No one will use MCX. Either it will get acquired or it will get RCOMed. But currently looking at volume it looks like it is building up with speculative volume.
Let's short first and keep a SAR (Stop And Reverse) because if stop-loss triggers, it will be massive long buildup looking at previous buildup.
