As the potential National Stock Exchange (NSE) initial public offering (IPO) draws closer, market participants are closely watching the performance of other prominent exchange-listed stocks, including BSE Ltd, Multi Commodity Exchange of India Ltd (MCX), and Indian Energy Exchange Ltd (IEX).
Muthuselvaraj M, a Research Analyst at Mirae Asset Sharekhan, has provided specific technical insights and trading recommendations for these three stocks ahead of Monday's trading session.
BSE Ltd: Buy Recommendation
BSE has received a 'Buy' recommendation from the analyst. Following a correction from its peak, the stock found support at a swing low and has since turned positive. It shows potential to reach resistance levels between Rs 3,625 and Rs 3,780. The price is also supported by its 20-day Exponential Moving Average (EMA) at Rs 3,265, with the Relative Strength Index (RSI) remaining resilient above 50. The outlook for BSE is anticipated to maintain its upward momentum in the near term.
Multi Commodity Exchange of India (MCX): Neutral Stance
MCX is currently rated 'Neutral'. The stock recently faced rejection after hitting a peak of Rs 3,480 and is expected to correct towards Rs 3,090. A key support level is identified at Rs 2,890, which corresponds to the 61.8 percent retracement of its swing high at Rs 3,400. The Moving Average Convergence Divergence (MACD) indicator shows a negative crossover, indicating a sideways trend. Despite this, MCX is trading above all short-term exponential moving averages, suggesting a 'buy on dip' strategy for the short to medium term. A clear directional trend is expected only upon a breakout above Rs 3,400 or a breakdown below Rs 2,890.
Indian Energy Exchange (IEX): Range-Bound Outlook
IEX is expected to remain 'Range-bound'. The stock has been consolidating and forming a base since April 2026. While it trades below its 20-day Daily Moving Average (DMA) of Rs 123, signaling weakness, a potential pullback is possible. IEX has established multiple short-term support levels at Rs 118. A move above Rs 123 could propel it towards the Rs 128-135 range in the short to medium term. With the RSI at 33, indicating an oversold zone, a rebound could be imminent. The overall outlook remains sideways, potentially offering buying opportunities at lower price points.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.