Analysts from Mirae Asset Sharekhan have issued fresh trading recommendations for key Indian stocks: Central Depository Services (India) Ltd (CDSL), Multi Commodity Exchange of India Ltd (MCX), and BSE Ltd. These insights, published in early July 2026, provide guidance for traders navigating market movements.
BSE Ltd: Book Profits Advised Amid Bearish Trend
BSE Ltd has shown a bearish trend since reaching its peak of Rs 4,256 on May 27, 2026. The stock's recent fall below its rising channel indicates potential downside risk, with identified support levels at Rs 3,766 and Rs 3,558. Furthermore, the price has breached both the 20-day and 50-day Exponential Moving Averages (EMAs).
Technical indicators, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), have confirmed a negative crossover below the zero line, suggesting a sustained downward trajectory. Consequently, investors are advised to avoid fresh buying until the stock surpasses the Rs 4,220 resistance level.
Multi Commodity Exchange of India (MCX): Neutral Stance
MCX has been consolidating within a range of Rs 2,710 and Rs 3,040, following a correction from its Rs 3,480 peak. The stock is currently trading below its 20-day Simple Moving Average (SMA) of Rs 2,845 and its 50-day EMA of Rs 2,883.
Market sentiment for MCX remains neutral. A clear direction is anticipated only upon a decisive breakout above Rs 3,040 or a breakdown below the Rs 2,715 support level. Investors are recommended to hold their current positions and monitor the short-term support. Fresh buying is advised only after the stock breaks out of its consolidation zone.
Central Depository Services (India) Ltd (CDSL): Buy Recommendation
CDSL Ltd has turned positive, breaking above its downward-sloping trend line and surpassing the 200-day EMA. Analysts see strong buying opportunities, projecting the stock to rally towards target prices of Rs 1,480–1,565 in the short-to-medium term. This projection is contingent on the stock maintaining support at Rs 1,200.
Daily momentum indicators show a positive crossover, reinforcing the expectation that CDSL is poised for further gains.
Disclaimer: Investment in the stock market is subject to market risks. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.