Stay updated with breaking news from Mcx Stock. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.
The MCX stock hit a record high of Rs 3,343 on December 8, 2024, but failed to hold on to the momentum. It found support above the 50-DMA on the daily charts earlier in January and bounced back. It looks like the stock has formed a strong base above 3,000 level and traders can take advantage of the momentum, which could push the stock to a fresh record high in the short- to medium-term, suggested experts.
Shares of Multi Commodity Exchange of India (MCX) rallied over 11% to hit an all-time high of Rs 2,179.45 on the NSE, remaining unbeaten for five consecutive sessions.
The approval comes after the SEBI had on September 29 asked the company to put on hold the proposed go-live of its new commodity derivatives platform planned for the first week of October.