Wednesday, June 23, 2010

Buy FINTECH - Owner of Exchanges

News & Impact:   Multi Commodity Exchange Gets IPO Approval, Exempted From Stake-Sale Rule, This can be positive if this exchange gets listed 

FINANCIAL TECHNOLOGIES Rs.1351 has made higher low and stock trades above short term moving average indicating a pull back in the stock in near term and stock is moving in a channel where,  holding Rs.1300 levels, a target of Rs.1430-1460 and even more can be possible.

Multi Commodity Exchange Gets IPO Approval, Exempted From Stake-Sale Rule  http://www.bloomberg.com/news/2010-06-23/multi-commodity-exchange-gets-ipo-approval-exempted-from-stake-sale-rule.html

MCX, as the exchange is known, scrapped plans for a share sale in August 2008 after the stock market slumped. The exchange is promoted by Financial Technologies (India) Ltd.  and Fidelity International Ltd., NYSE Euronext and Bank of America Merrill Lynch are among holders in the bourse.

http://hindi.economictimes.indiatimes.com/articleshow/6045718.cms  ए के प्रभाकर, स्वतन्त्र टेक्निकल एनालिस्ट