MCX - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.0

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

📊 Trend Overview

Current Trend: Bullish with signs of short-term consolidation

Phase: Trending but losing momentum

Bias: Neutral to mildly bullish

📈 Technical Indicators Analysis

🔹 Moving Averages

50 DMA: ₹7,796

200 DMA: ₹6,828

Current Price: ₹7,999

Price is above both DMAs → confirms bullish trend

50 DMA > 200 DMA → golden cross supports long-term strength

However, price is near 50 DMA → suggests consolidation

🔹 RSI (Relative Strength Index)

RSI: 56.4

Neutral zone → neither overbought nor oversold

Indicates balanced momentum with room for upside

🔹 MACD (Moving Average Convergence Divergence)

MACD: -33.8

Negative MACD → signals short-term bearish divergence

Suggests weakening momentum despite price stability

🔹 Bollinger Bands

Price near middle band → consolidation zone

Bands narrowing → low volatility

No breakout or squeeze pattern visible

🔹 Volume Trends

Current Volume: 4.80 lakh

1-Week Avg Volume: 6.49 lakh

Below average volume → weak participation

Suggests lack of conviction from buyers

📌 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 7,800 Near 50 DMA, minor support

Support 2 7,500 Previous swing low

Resistance 1 8,200 Immediate resistance

Resistance 2 8,600 Intermediate ceiling

Resistance 3 9,115 52-week high, major breakout level

🎯 Entry & Exit Zones

Optimal Entry Zone: ₹7,750–₹7,850 (on pullback near support)

Exit Zone / Profit Booking: ₹8,600–₹9,115 (resistance and breakout target)

🔍 Momentum Signals

Short-Term: Mild bearish divergence due to negative MACD

Medium-Term: Bullish trend intact if price holds above ₹7,796

Volume: Needs improvement for breakout confirmation

🧭 Conclusion

MCX is currently consolidating within a broader bullish trend. While price remains above key moving averages, weakening MACD and low volume suggest caution. Traders may consider accumulating near ₹7,750 with targets around ₹8,600–₹9,115, keeping a close eye on volume and MACD crossover for confirmation.

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