MCX shares a buy at today's price? When will BEL's time-wise correction end?

Nilesh Jain, Head Derivatives and Technical Research at Centrum Broking believes Multi Commodity Exchange of India Ltd (MCX) could be bought in a staggered manner, on any dips towards the Rs 3,000-2,800 range. Speaking at Daily Calls on Business Today Television (BTTV), he said Bharat Electronics Ltd (BEL) is facing a time-wise consolidation and is taking support at key long-term moving average. He advised investors to stay put on the stock.

MCX: Should I buy this stock at prevailing level from a 2-year time horizon?

On a query by a viewer by the name Mohit Yadav, Jain said one should be a bit cautious on MCX shares at present. Jain said the stock is not in a weak trend, instead in a secular uptrend, and a follow-up move towards Rs 4,000 is possible. But one's approach to this stock should be buying it in a staggered manner. He said levels of Rs 3,000-2800 is the range one can accumulate this stock adding that the stock has potential to see Rs 4,000-4,500 in the given timeframe.

BEL: Should one hold or exit this defence play?
On a query by a viewer from Rishikesh, who has 1,300 shares at an average of Rs 444 per share, Jain said the stock has been consolidating for sometime. This consolidation is time-wise in nature. The good thing, he said, is the fact that the stock is taking support from its 200-day moving average. As long as the stock is holding up Rs 414 level, a pullback towards Rs 440-450 is a possibility. Jain advised the investors to have patience, place a stop loss at Rs 214 and look for targets around Rs 450 level.

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(DISCLAIMER: The views/advice/suggestions expressed in the video are solely by market analysts & investment experts. Please consult your investment advisers before making any financial decisions.)