On daily and weekly charts, the stock has formed a promising uptrend continuation formation which indicates a continuation of the uptrend soon. For the trend following traders, Rs 990 and Rs 975 would be the key support zone. If the stock is trading above the same, the uptrend wave is likely to continue. Above this, it could move up to Rs 1060.
MCX shares gain 3%, surge 12% in just 5 sessions. What’s behind the sharp rally?
MCX shares rose sharply on Wednesday, extending a five-day rally with total gains of 12%. The surge is driven by rising commodity prices and higher