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Shares of MCX have surged 17.3% in four trading sessions. The counter hit an intraday high of Rs 1,525 in morning trade today, which is also a 52-week high for the counter. In last one month the counter soared about 19% compared with an 8.64% rise in benchmark Nifty 50 index.
MCX will announce Q1 results on Saturday, 25 July 2020. On a consolidated basis, MCX reported 7.5% in net profit to Rs 65.5 crore on a 33% jump in net sales to Rs 105.28 crore in Q4 March 2020 over Q4 March 2019.
On the technical front, the stock's RSI (relative strength index) stood at 81.712. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 20 days and 50 days simple moving average placed at 1303.92 and 1247.58. These levels will act as crucial support levels in near term.
MCX is engaged in facilitating trading, and clearing and settlement of commodity derivatives. It operates as a commodity futures exchange.
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