MCX
MCX is ready to flyCMP 1671 (Spot)
Entry 1650-1670
T1 1700
T2 1745
T3 1780
SL 1625 (Closing basis)
Throughout the recent fall in benchmark indices, MCX has been strong and positive.
Price is moving in a range on daily charts and today also it took a support on 20sma as well as the bottom of range.
If SL is safe, we can look for an upside of 5-7% in coming days. Keep an eye and trade safe.
Above 1800, sky is the limit.
Zinc (MCX) Short Term ReversalThe stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by Lower Trendline, Lower Bollinger Band and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near all time/swing high.
GOLD FUTURES (MCX) :: BULLISHDATE: 23/5/2021
INSTRUMENT: GOLD MCX
TREND: BUY
TIME FRAME: DAY
CMP: 48404
BUY ABOVE: 48875
STOP LOSS: 48117
TGT 01: 49699
TGT 02: 49973
TGT 03: 50319
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
Gold is heading towards an important zone -- time to switch?After recovering from the retracement, MCX:GOLD1! is headed towards the trendline resistance. With equities facing some headwings globally, gold might be in focus from a swing/positional pov. Closely monitoring as I'd booked profits approx at current levels a couple of weeks ago. With the 50 weekly MA also approaching soon (48900 levels) it will be interesting to see if price breaks out.
MCX - Looking BullishMCX has given breakout to falling wedge pattern with a strong volume on daily timeframe and is currently retracing back to its support trendline (Earlier Resistance Trendline). Formation of reversal green candle near support line will confirm long entry.
It has the potential of reaching the target of 1800 within the next 1-2 months with a stop below 1460 levels.