Short term swing trade | Buy NSE: MCX | 5-6% target | Indian stock trading idea on 23 Dec 2025

NOTE

Closing Price: ₹10,821 (as of Dec 22, 2025)
StopLoss*: Apply on the daily close. After the first target, reset the StopLoss to your buying price.
Duration^: Approximate holding period based on the active trading days (excluding market holidays). Actual holding may vary with the market conditions.
Upside Potential#: Based on median of the suggested buy range.

Multi Commodity Exchange of India Limited (MCX) operates India’s leading commodity derivatives exchange, providing an online platform for trading commodity futures.

It enables trading in bullion, base metals, energy, and agricultural commodities, and offers iCOMDEX, a real-time commodity price index. MCX also provides clearing and settlement services, along with data feeds and exchange memberships.

The exchange has strategic partnerships with global exchanges such as CME Group, London Metal Exchange, Dalian Commodity Exchange, and others.

Incorporated in 2002, MCX is headquartered in Mumbai, India.

Website: https://www.mcxindia.com/

Q2 FY26 Earnings Call Summary & Financial Highlights

Earnings Call Summary

Strong financial performance: MCX’s profit rose 29% and revenue grew 31%, showing higher trading activity and better cost efficiency.
Sharp rise in trading volumes: Daily trading value increased 87%, mainly due to strong demand in gold and silver contracts.
Options segment boosted income: Options trading grew over 90%, which earns MCX higher fees and margins.
New products supported growth: Launch of new commodity contracts and BULLDEX bullion index options attracted more traders.
Higher institutional participation: More large investors joined the exchange; MCX also announced a 1:5 stock split to improve liquidity.

Financial Highlights

Metric	Q2 FY26	Q1 FY26	Q2 FY25	QOQ Change (%)	YOY Change (%)
Revenue from Operations (₹ Cr)	374.23	373.21	285.58	0.27	31.04
EBITDA (₹ Cr)	270.19	241.66	204.69	11.79	31.98
Profit After Tax (₹ Cr)	197.47	203.19	153.62	-2.82	28.54
EBITDA Margin (%)	72.2	64.75	71.65	7.45	0.55
Net Profit Margin (%)	52.77	54.44	53.79	-1.67	-1.02
Earnings Per Share (₹)	38.72	39.84	30.12	-2.82	28.56

Q2 FY26 Earnings Call Summary & Financial Highlights

Earnings Call Summary

Strong financial performance: MCX’s profit rose 29% and revenue grew 31%, showing higher trading activity and better cost efficiency.
Sharp rise in trading volumes: Daily trading value increased 87%, mainly due to strong demand in gold and silver contracts.
Options segment boosted income: Options trading grew over 90%, which earns MCX higher fees and margins.
New products supported growth: Launch of new commodity contracts and BULLDEX bullion index options attracted more traders.
Higher institutional participation: More large investors joined the exchange; MCX also announced a 1:5 stock split to improve liquidity.

Financial Highlights

Metric	Q2 FY26	Q1 FY26	Q2 FY25	QOQ Change (%)	YOY Change (%)
Revenue from Operations (₹ Cr)	374.23	373.21	285.58	0.27	31.04
EBITDA (₹ Cr)	270.19	241.66	204.69	11.79	31.98
Profit After Tax (₹ Cr)	197.47	203.19	153.62	-2.82	28.54
EBITDA Margin (%)	72.2	64.75	71.65	7.45	0.55
Net Profit Margin (%)	52.77	54.44	53.79	-1.67	-1.02
Earnings Per Share (₹)	38.72	39.84	30.12	-2.82	28.56

Price Performance & Volume Analysis

Price Performance

Volume Analysis

Price Performance & Volume Analysis

Price Performance

Volume Analysis

Technical Analysis

Key Observations

The stock price is in a strong uptrend, moving higher after breaking out of two consecutive rounding bottom patterns.
With a fresh short-range breakout, the stock is now trading at an all-time high and is expected to maintain this bullish momentum in the near term.

Many traders follow curated short term trading ideas to catch quick moves driven by strong technical signals.

Technical Image - Daily Timeframe

Technical Analysis

Key Observations

The stock price is in a strong uptrend, moving higher after breaking out of two consecutive rounding bottom patterns.
With a fresh short-range breakout, the stock is now trading at an all-time high and is expected to maintain this bullish momentum in the near term.

Many traders follow curated short term trading ideas to catch quick moves driven by strong technical signals.

Technical Image - Daily Timeframe

Technical Indicators

Oscillators

Indicator	Value	Zone
RSI-14	68.08	Neutral
CCI-14	282.5	Overbought
MFI	49.61	Neutral
ROC	6.92	Positive
Stochastic %K	75.15	Neutral
William %R	-2.37	Overbought

Exponential Moving Averages (EMAs)

EMA	Value	Stock Position
5 DEMA	10382	Above
10 DEMA	10284	Above
20 DEMA	10130	Above
50 DEMA	9659	Above
100 DEMA	8958	Above
200 DEMA	8085	Above

Technical Indicators

Oscillators

Indicator	Value	Zone
RSI-14	68.08	Neutral
CCI-14	282.5	Overbought
MFI	49.61	Neutral
ROC	6.92	Positive
Stochastic %K	75.15	Neutral
William %R	-2.37	Overbought

Exponential Moving Averages (EMAs)

EMA	Value	Stock Position
5 DEMA	10382	Above
10 DEMA	10284	Above
20 DEMA	10130	Above
50 DEMA	9659	Above
100 DEMA	8958	Above
200 DEMA	8085	Above

Conclusion

Multi Commodity Exchange of India Stock Price Forecast

Based on our Swing stock trading advice in India, the Multi Commodity Exchange of India Stock Price target will be INR 11000 - INR 11200 in the next 12-14 trading sessions.

Conclusion

Multi Commodity Exchange of India Stock Price Forecast

Based on our Swing stock trading advice in India, the Multi Commodity Exchange of India Stock Price target will be INR 11000 - INR 11200 in the next 12-14 trading sessions.

MONEY MANAGEMENT AND TRADING RULES

Buy within the recommended price range. You may allow up to 1% flexibility beyond the range if needed.
No need to rush. The recommendation remains valid for up to 7 days, not just at market open.
Use a trailing stop-loss to protect and lock in profits.
Diversify your trading capital across our other recommended stocks to reduce risk.
Invest responsibly. Trade only with funds you can afford to lose and hedge positions where appropriate.

Analyst Summary

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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