BUY MCX ABOVE 805
TGT 820/850 SL 770
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Market summary 27 APRIL 2018: Indices ended
sharply up on Friday at two-month highs, triggered by corporate earnings and
taking cues from global peers. Reliance Industries hit a
record high of Rs 1,000 per share, up 2.5% in intraday trade , Axis
Bank gained 9% at Rs 540 per share, despite the private sector lender
reporting its first net loss of Rs 21.8 billion for the quarter ended March
2018 . Maruti Suzuki India falls 5% from day's high post Q4 results to
Rs 8,721 per share, falling 5% from their intra-day high of Rs 9,142 per share,
after the automaker reported a lower than expected net profit of Rs 18.82
billion due to higher tax outgo in March quarter. It had profit of Rs
17.11 billion in year ago quarter.
Multi
Commodity Exchange of India Limited (MCX) operates an electronic commodity
futures exchange. After showing correction from the higher level of 1164,
now MCX is trading in short term
recovery phase, it is likely to continue the upside move in near term
with
the crossing of the resistance level of 820 as the stock is managing to sustain
above the level of 800. It is likely to continue the positive movement
with the breakout of the resistance levels of 814. 22 and 55 days moving
averages seen as support level with the RSI of 60. And 200 EMA seen
as a resistance level at 906, after breakout the level of 814 One may get the
targets 820,835,850 in the stock with the stop loss of 770.
DAILY CHART FOR MCX
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