COMMODITY : BUY MCX

• July 29, 2021
• By Dipankar Sardar
• 75 Views 245 comments

Multi Commodity Exchange of India Ltd (MCX) (BSE: 534091) is an independent Indian government owned commodity exchange based in India. It is under the ownership of Ministry of Finance , Government of India. It was established in 2003 by the Government of India and is currently based in Mumbai . It is India’s largest commodity derivatives exchange. The average daily turnover of commodity futures contracts increased by 26% to ₹32,424 crore during FY2019-20, as against ₹25,648 crore in FY2018-19. The total turnover of commodity futures traded on the Exchange stood at ₹83.98 lakh crore in FY2019-20. MCX offers options trading in gold and futures trading in non-ferrous metals, bullion, energy, and a number of agricultural commodities (mentha oil, cardamom, crude palm oil, cotton, and others). MCX was among the top global commodity exchanges in terms of the number of futures contracts trade, the latest yearly data from Futures Industry Association (FIA) showed. MCX launched the MCX India Commodity Indices (MCX iCOMDEX) series on December 20, 2019, which conform to the global best practices set by the International Organisation of Securities Commissions (IOSCO). iCOMDEX series consists of iCOMDEX Composite, iCOMDEX Base Metals, iCOMDEX Bullion, iCOMDEX Gold, iCOMDEX Copper and iCOMDEX Crude Oil. Subsequently, MCX received regulatory approval for launch of futures contracts on MCX iCOMDEX Bullion and Base Metal indices. The exchange also set up a web-based application “ComRIS” (Commodity Receipts Information System) in order to maintain an electronic record of commodities deposited at the Exchange accredited warehouses and ensure flow of real time information from the warehouses.

Script Name –MCX

Buy Price – 1620-1625

Profit Target-1740

Stop Loss-1560

Call Duration-DELEVERY

Disclaimer : Trading in the stock market, currency, or commodity markets is risky and has the potential to lose money. –Atal Trade Effort calls you after analyzing all aspects of all stocks. Investing is a personal matter. However, only one. The risk of loss in trading and investment in Securities markets including Equities, Derivatives, commodities, and Currency can be substantial. All products that carry a substantial risk of loss up to your invested capital. It May not be suitable for everyone. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You invest a portion of your total money that will not be affected by the loss. Never put all your money into trading and never borrow money for the business.