Analyst sees a ₹12,000 long-term target but warns of short-term volatility.
Multi-Commodity Exchange (MCX) shares are gaining attention on the analyst’s radar. With a stellar quarterly result and the announcement of a stock split as the main catalyst, what does technical charts hold in store for this stock?
Sudhansu Panda of Bluemoon Research & Financial Services believes that while its long-term story stays intact, MCX stock could see some volatility in the short term.
At the time of writing, MCX shares were up 3% on Monday.
Technical Watch
Between April and July 2025, the stock has recovered from the ₹4,500 zone to ₹9,100. Since then, the stock has been in a continuous downtrend till Friday, Aug 7.
Panda observed that the outlook for the long term is very clear, with a target price of ₹12,000. But the stock may see short-term volatility due to previous aggressive momentum.
Additionally, the stock split will weigh on the next moves. On its daily chart, he said MCX may fall to the ₹7,000 to ₹7,050 area, as that is the previous breakout zone and now it needs to act as support.
The 200-day Exponential Moving Average (EMA) stands around ₹6,500.
What Should Investors Do?
According to Panda, if MCX slides more than expected, traders can consider buying on dips based on individual risk appetite. On the other hand, if the stock recovers and sustains above ₹9,100, then more upside momentum is possible.
What Is The Retail Mood?
Data on Stocktwits shows that retail sentiment turned from ‘bullish’ to ‘neutral’ a day ago.
MCX shares have rallied 26% year-to-date (YTD).
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