MCX Primary degree W5 completion - Exit

Multi Commodity Exchange of India Limited :

Though the stock got listed in Dec 2012, the stock commenced an impulse wave only during Aug 2013. The stock has seen a spectacular rally.

It completed its first Wave of primary during Dec 2016 and underwent correction until Feb 2019, i.e. Primary degree Wave 2 achieved a 61.8% retracement.
Wave 3 of primary degree was an exceptionally strong wave and same was completed during Dec 2024. W4 was a short zigzag and same got completed in Mar 2025 with a retracement of 38.2% of W3.
W2 and W4 had a textbook correction, i.e. W2 a deeper correction and W4 a shallow correction.

The stock has been forming W5 of primary degree ever since Mar 2025.

There is a good possibility that stock has completed W5 of primary degree as follows :-

W1 of intermediate degree was a SW5 extension @ 1.618x and same got completed in Jul 2025; W2 achieved a retracement of 38.2% and same got completed in Aug 2025.
W3 of intermediate degree was a SW5 extension @ 2x and same got completed on 29 Jan 2026; W4 quickly achieved a retracement of 50% of W3.
W5 of intermediate degree formed at similar levels of W3 on 18 March. With this, W5 of Primary degree also got completed which is a larger degree Wave completion.

It is likely that stock will undergo larger correction. Use any upswing to exit and avoid any fresh positions.

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Wave count mismatch, stock hit SL

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