MCX may correct 4-5%: SP Tulsian

SP Tulsian, sptulsian.com feels that Multi Commodity Exchange of India (MCX) may correct 4-5 percent.

Tulsian told CNBC-TV18, "People have raised a lot of expectation that from day one that we will be seeing strong working by the exchanges but it does not happen in that way. Maybe Multi Commodity Exchange of India will correct further by about four to five percent. In fact that goes for both for Financial Technology as well as for MCX – both may get corrected by about four to five percent but I don’t think that one can take positional bearish view on both the stocks but from those levels after a correction of four-five percent one can look to take a long call on both the stocks."
At 10:53 hrs Multi Commodity Exchange of India was quoting at Rs 1,244.90, down Rs 32.95, or 2.58%. It has touched an intraday high of Rs 1,283 and an intraday low of Rs 1,240.