On October 11, MCX reached a 52-week high of Rs 2,179.45 as a result of investors' excitement about the company's statement that it would switch to a new platform. On the National Stock Exchange, the stock was trading 3.28 percent higher at Rs 2,168.75 at 11:49 a.m.
Emotions like greed and fear regularly affect traders' judgments. When choosing trades, it's best if you can keep these psychological factors in mind.
Think about the portfolio's entry point and price aim before placing a purchase order. The price target is the level at which it is fairly valued based on its past and expected earnings. If the company is now trading below its target price, this is a great time to invest since you will profit when it reaches or exceeds the target price
For intraday traders who don't want to suffer huge losses, stop losses are crucial. Decide on an appropriate stop-loss order for your aim. Start by setting your stop-loss at 1%.
Your best chance of making money when trading intraday is to go with the trend. Making trading decisions based on the likelihood of a trend reversal is unlikely to produce gains consistently.