MCX INDIA
The charts of MCX shows a good consolidation with 500 as a mean level. Currently its trading around 487-490. This is a good level to buy this highest profitable exchange.
MCX has 87% market share in the Indian commodity derivatives market.
Also, the story of stake sale of MCX through FT is due in April month. CME Inc (its a big shark) and BSE of India are two of the ten interested buyers of MCX stake.
This should give MCX rich valuation of 4000Cr to 5000Cr which translates to 800 to 1000 per share of valuation. A 22 to 27 of EPS is appropriate valuation.
550 is the breakout point, above which it will try to test 625-50 levels and so on..
One weekly close above 500 should mean that the stock is ripe to move up.
The stock has shown descending triangle pattern which is bearish, so caution is advised in opening up new position.
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1 year charts speaks about a profitable opportunity ahead:
A strong break out above 500-550 should take it to 1100+ levels!! a multi-bagger in making guys.. the risk is too low and rewards too good to be true to act upon!
The charts of MCX shows a good consolidation with 500 as a mean level. Currently its trading around 487-490. This is a good level to buy this highest profitable exchange.
MCX has 87% market share in the Indian commodity derivatives market.
Also, the story of stake sale of MCX through FT is due in April month. CME Inc (its a big shark) and BSE of India are two of the ten interested buyers of MCX stake.
This should give MCX rich valuation of 4000Cr to 5000Cr which translates to 800 to 1000 per share of valuation. A 22 to 27 of EPS is appropriate valuation.
550 is the breakout point, above which it will try to test 625-50 levels and so on..
One weekly close above 500 should mean that the stock is ripe to move up.
The stock has shown descending triangle pattern which is bearish, so caution is advised in opening up new position.
_______________________________________________________________________________
1 year charts speaks about a profitable opportunity ahead:
A strong break out above 500-550 should take it to 1100+ levels!! a multi-bagger in making guys.. the risk is too low and rewards too good to be true to act upon!
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