Stocks to Buy: The domestic stock market got off to a weak start on Monday (August 12) after sluggish global cues and the Hindenburg report at the domestic level.
Amidst this decline, some stocks are seeing good movement on the technical chart.
A renowned brokerage company has picked Exchange and Data Platform MCX (NSE: MCX) as its technical choice. The brokerage firm has recommended buying MCX for 2-3 days.
For the Indian stock markets, the market started with a decline on Monday (August 12) amid fears of the Hindenburg report. Sensex-Nifty has come down by half a percent each.
The Sensex was trading down by about 300 points. At the same time, Nifty was trading around 24,300.
The market was 74% Bearish. As soon as the market bell rang, the Sensex opened at 79,330, down 375 points.
Nifty opened 47 points down at 24,320. Bank Nifty opened 72 points down at 50,412.
MCX: Earnings Are Good Within The Next 2-3 Days
The brokerage company has declared MCX one of the top technical choices. This brokerage decided to set a target price of 4600 for the stock over the next two to three days.
The stock was closed at 4420 rupees on August 12, 2024. In this way, the stock can jump 4-5 percent from the current price.
MCX: Stock Jumped 16% In 1 Month
In a volatile market, MCX started trading flat on Monday. In the past year, the stock has provided a return of around 178 %.
This year the stock has given a return of 38 %. In the same period, the stock has given a return of 25 % over 6 months and 15 % in three months.
The price has risen to 16 percent over the last month. The 52-week high on the BSE is 4,432, while the lowest is 4,432.
The market capitalization for the firm is higher than 22,252 crores.
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