1. **Technical Analysis**:
- The stock has experienced breakouts on multiple time frames: daily, weekly, and monthly. This is generally considered a positive sign in technical analysis, as it indicates strong upward momentum.
2. **Trading Recommendation**:
- The recommendation is to buy
MMTC
at around Rs 70.
- The target price (TRG) is set at Rs 100-125, which suggests an expectation of significant price appreciation.
- A stop-loss is placed at Rs 53.50, which is intended to limit potential losses in case the trade goes against the investor.
3. **News Event**:
- The stock's rise is attributed to the Indian government's approval of royalty rates for mining strategic minerals, specifically lithium, niobium, and rare-earth elements.
- This approval allows the government to auction blocks for these minerals in India for the first time.
- The royalty rates are specified as 3% for lithium and niobium and 1% for rare-earth elements.
- Royalty rates are important financial considerations for bidders in the auction of mineral blocks.
- India is currently conducting exploration for critical and strategic minerals.
- The stock has experienced breakouts on multiple time frames: daily, weekly, and monthly. This is generally considered a positive sign in technical analysis, as it indicates strong upward momentum.
2. **Trading Recommendation**:
- The recommendation is to buy
MMTC
at around Rs 70. - The target price (TRG) is set at Rs 100-125, which suggests an expectation of significant price appreciation.
- A stop-loss is placed at Rs 53.50, which is intended to limit potential losses in case the trade goes against the investor.
3. **News Event**:
- The stock's rise is attributed to the Indian government's approval of royalty rates for mining strategic minerals, specifically lithium, niobium, and rare-earth elements.
- This approval allows the government to auction blocks for these minerals in India for the first time.
- The royalty rates are specified as 3% for lithium and niobium and 1% for rare-earth elements.
- Royalty rates are important financial considerations for bidders in the auction of mineral blocks.
- India is currently conducting exploration for critical and strategic minerals.
