Buy MCX for long term, says SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "I don't think that any positive news is coming in for Multi Commodity Exchange of India. We have been seeing some technical up move coming in on a very short-term basis. This stock moves up, but is unable to sustain."

"However, if one has long-term call, maybe for about one year, then one can look to buy the stock otherwise on a short-term basis look to play in a range of maybe about Rs 680-760 or Rs 770," Tulsian said. The share touched its 52-week high Rs 1,617.00 and 52-week low Rs 705.00 on 13 November, 2012 and 15 July, 2013, respectively. Currently, it is trading 56.56 percent below its 52-week high and 0.36 percent above its 52-week low. Market capitalisation stands at Rs 3,582.38 crore.