MCX, Firstsource shares can zoom over 30%, hit new life-time highs: charts

Technical Alert: MCX and Firstsource Solutions stocks have witnessed formation of 'Golden Cross' on the daily chart; and hence are likely to log gains in the coming period.

Shares of Multi Commodity Exchange of India (MCX) and Firstsource Solutions (FSL) were seen trading on a divergent note in trades on Friday, May 30, 2025 on the NSE. MCX stock was up nearly a per cent around ₹6,624 levels, while FSL share price slipped 3.5 per cent to ₹381 levels.  Technical charts, however, flag a positive development for both MCX and FSL stocks. The daily charts show formation of the 'Golden Cross' pattern also commonly referred to as 'Golden Crossover'.  The term 'Golden Cross' or 'Golden Crossover' means that the short-term - 50-Day Moving Average (50-DMA) of the underlying stock or index has risen above the long-term 200-DMA on the daily charts. Technically, this is considered as a positive development, as the short-term moving average which is rising, tends to provide support for the underlying stock or index at higher levels.  Given this background, here's a detailed technical analysis on the MCX and FSL stocks. 

MCX

Current Price: ₹6,624  Upside Potential: 32.9%  Support: ₹6,250; ₹6,155; ₹6,060  Resistance: ₹7,220; ₹7,830; ₹8,320  MCX stock has rallied over 32 per cent in the last three months. The weekly chart shows that the near-term bias for the stock is likely to remain positive as long as the stock holds above ₹6,250 levels; below which support for MCX stock can be anticipated around ₹6,155 and ₹6,060 levels. Major support for the stock stands at ₹5,800 levels - in the form of the 200-DMA.  On the upside, the stock can potentially zoom to a record high, and target levels of ₹8,800. Intermediate resistance for the stock can be seen around ₹7,220, ₹7,830 and ₹8,320 levels. CLICK HERE FOR THE CHART  ALSO READ |  Deepak Fertilisers, GSFC, RCF: Trading strategy for top fertiliser-related stocks 

Firstsource Solutions (FSL)

Current Price: ₹382  Upside Potential: 31.7%  Support: ₹358; ₹347; ₹326  Resistance: ₹393; ₹422; ₹453; ₹478  Despite today's loss, FSL stock is seen holding a gain of almost 12 per cent thus far in the month of May. Technically, the stock is favourably placed and is seen trading above key moving averages across time-frames. Having said that, some negative divergence is seen on the daily chart, hence the stock may consolidate in the near-term before gaining strength.  The daily chart indicates that the near-term bias for FSL stock is likely to remain positive as long as the stock trades above ₹358; below which support for the stock can be anticipated around ₹347 and ₹326 levels. On the upside, the stock needs to break and trade consistently above ₹393 to gain momentum. CLICK HERE FOR THE CHART  The yearly Fibonacci chart suggests that the stock can potentially soar to ₹503 levels - thereby surpassing its record high which stands at ₹417.65 - registered on January 7, 2025. Intermediate resistance for the stock can be expected around ₹422, ₹453 and ₹478 levels.  ALSO READ: Prostarm Info Systems IPO allotment today |  Scoda Tubes IPO Day 3