MCX - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 3.5

Here’s a comprehensive technical analysis of Multi Commodity Exchange of India Ltd (MCX)

📊 Trend Overview

Current Trend: Mild bearish consolidation

Price is hovering just above the 50 DMA (₹7,796) but well above the 200 DMA (₹6,412), indicating long-term bullishness but short-term weakness.

The stock has pulled back from its 52-week high of ₹9,115, suggesting resistance and profit booking.

📈 Momentum Indicators

RSI (41.6): In the lower neutral zone, leaning bearish. No oversold signal yet.

MACD (-13.9): Negative crossover, confirming short-term bearish momentum.

Volume: Slightly above weekly average, indicating active trading but not strong accumulation.

📉 Moving Averages & Chart Patterns

Support Levels

₹7,796 (50 DMA, immediate support)

₹7,600 (psychological support)

₹6,412 (200 DMA, long-term support)

Resistance Levels

₹8,000 (minor resistance)

₹8,250–₹8,500 (intermediate resistance zone)

₹9,115 (52-week high, major resistance)

📎 Bollinger Bands

Price is near the lower band, suggesting potential for a bounce.

Bands are widening, indicating increased volatility and possible trend shift.

🔍 Short-Term Signals

Momentum: Weak, with bearish MACD and RSI below 50.

Entry Zone: ₹7,600–₹7,750 (if support holds and RSI stabilizes)

Exit Zone: ₹8,250–₹8,500 (near resistance or MACD reversal)

🧭 Conclusion

Trend: Consolidating with bearish bias.

Outlook: Caution advised until MACD turns positive and RSI rises above 50.

Strategy: Watch for bounce near ₹7,600; consider short-term trades only if momentum improves.

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