Exit MCX India: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that exit Multi Commodity Exchange of India.

Sukhani told CNBC-TV18, “One should sell and exit MCX India. Rs 1,200 is strong resistance for MCX and what happened today, the MCX opened 100 points higher at Rs 1,275 but then after that it has slid down and come back to Rs 1,180. So clearly, higher levels were not being sustained. This is a good time you have seen a very decent rally from Rs 800 to Rs 1,180 and this is a time to sell out.”
It has touched an intraday high of Rs 1,246.20 and an intraday low of Rs 1,162.10. At 12:43 pm, the share was quoting at Rs 1,167.40, up Rs 10.30, or 0.89%.
 
It was trading with volumes of 470,786 shares, compared to its 5-day average of 129,555 shares, an increase of 263.39%.