MCX can rally to Rs 1,725, CSB Bank Rs 287, says Mehul Kothari; check why

According to the technical analyst from Anand Rathi, one can consider to buy MCX Indian in the range of Rs 1,645 to Rs 1,648; while CSB Bank in Rs 264 - 266 band.

BUY

MCX India

Buy Range: Rs 1,645 - Rs 1,648

Target: Rs 1,725

Stop Loss: Rs 1,599

MCX is currently trading well above its 200-DEMA (day exponential moving average) OHLC (open, high, low, close) band, thus confirming its uptrend.

On December 13, the said counter gave a clean breakout from its tight range of Rs 1,550-Rs 1,600 along with the rising curvature of the 200-DEMA OHLC BAND adding more confirmation for the upside.

On the indicator front, the daily MACD gave a bullish reverse divergence along with the daily RSI (relative strength index) bouncing back from 60 levels; thus indicating more strength in the counter.

Upside for the