10 year resistance breakout *for educational purpose only.
MMTC breaking out of 10 year old resistance with momentum.
RSI is showing strength on monthly chart.
MMTC trade ideas
MMTC- Inv. H&S breakout done on monthly, RB breakout pendingMMTC- Inv. H&S breakout and retracement done on monthly. Then formed a Rounding bottom on daily and yet to breakout for the target mentioned in the chart.
The beauty here is both the monthly target and daily target are matching exactly.
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MMTC breakout We observe an ascending triangle breakout, indicating a potential upside in the coming days. This breakout pattern often signifies bullish momentum. Traders and investors may consider this as an opportunity to capitalize on the upward movement, but it's essential to monitor the market closely for confirmation and potential follow-through. Keep an eye on key support and resistance levels for a more comprehensive understanding of the stock's behavior during this period.
Buy MMTC for long termMMTC Ltd, or Metals and Minerals Trading Corporation of India, is a public-sector undertaking (PSU) and one of the largest trading companies in India. Here are some key points about MMTC:
Business Activities: MMTC is primarily involved in the import and export of various commodities, including metals, minerals, precious metals, coal, fertilizers, and agricultural products.
Core Sectors: The company operates in multiple core sectors, including non-ferrous metals, ferrous minerals, precious metals, and agro-products.
International Trade: MMTC plays a crucial role in facilitating international trade. It imports essential commodities to meet domestic demand and exports Indian products to international markets.
Gold and Silver Imports: MMTC is one of the major importers of gold and silver into India. It plays a key role in meeting the country's demand for these precious metals.
Government of India Ownership: MMTC is a government-owned company under the Ministry of Commerce & Industry, Government of India.
Diversification: Over the years, MMTC has diversified its operations to include various commodities, and it has expanded its footprint in both domestic and international markets.
MMTC Extremely Bullish BreakoutA bullish flag & pole Chart Pattern Breakout on the Weekly Time frame of NSE:MMTC
Price Action supported by very good volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list and initiate the long trade as per the levels mentioned on the chart
Stop loss will be on a Weekly closing basis.
Trend Analysis :- UP Trend
Chart Pattern :- Bullish flag & pole Chart Pattern
Technical Indicator :- Positive MACD Crossover
Disclaimer: This is for educational purpose only.
MMTC Buy ideaCompany engages in the export of minerals and import of precious metals, non-ferrous metal, fertilizers, agro products, coal, and hydrocarbon. Stock break its 9 year resistance with good volumes. Daily, Weekly and Monthly RSI is above 60. one can buy with atleast 3-6 months view for a target of 100-105.
MMTC Bullish; above 70.70 on Friday 13 Oct. MMTC Bullish; above 70.70 on Friday 13 Oct.
The above information does not constitute financial/investment/trading advice or recommendation and it is purely for educational purpose.
Swing Trading Strategy:
One may enter into a position only upon stock closing above the entry price on day closing basis and hold on for 5/10 trading sessions for larger gains
INTRADAY Trading Strategy:
1) Impulse upmove stage: The strong upmove (nearly upto 2% from breakoutprice) happens within the first five to 15 minutes. "High Risk Traders" buys in hope of another 2% upmove intraday.
"High Risk Traders" may have to patiently wait through the Pullback-Consolidation stage to realize profits. High risk/High reward set up as breakouts may fakeout (reversal)also
2) Pullback-Consolidation stage: After the above "Impulse upmove stage"; the price may then pull back and move sideways (between "Open" price and "High" of the above "Impulse upmove stage").
Safe traders with minimum risk profile may Wait for a breakout from the consolidation to enter at this stage to relize high profits in the final intraday final "Breakout continuation" stage
3) Breakout continuation: Stocks often in the third stage breaks up above the "High" of the first "Impulse upmove stage" and continue to go higher again.
Both Safe Traders/High Risk Traders may book profits at this stage
Stop Loss: You may keep the stop loss @ "Open" price of the day OR "Breakoutprice"
This do not constitute, financial, investment, trading, or other types of advice or recommendation.
MMTC 10 Year Breakouts1. **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 NSE: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.
MMTCMMTC :- The stock has given a breakout after 10 years
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Getting Ready for multiyear BoThe stock is trading with good monthly volumes and looking good to give a multi year BO.
Buy above 70 - safer above 71.2 levels - carry on day closing basis.
Buy less qty in this stock.
Target 1 79, Target 2 97, Target 3 125.
Put initial SL 58 and trail.
Learn & Earn,
Dr. Tanya Kumar
MMTC - Weekly Chart AnalysisStock break out of 6 month base. You can see the IV footprints (probable accumulation) in the daily chart. Where volumes started coming in from May 2023. Same is visible on the weekly charts too. Volume contraction while basing and then the rise in volumes.
On a daily chart its trading above all its key moving averages and on a weekly it has almost confirmed too. I would like it if it consolidates here for a while and form a small base and then continue its journey further.
64-71 would act as a hinderance for now until the overhead supply is absorbed. Its basing for the past 3 weeks in 22% range on low volumes.
55 shall now act as support while main support is the base break zone 41-44. A weekly close below this shall invalid our whole view.
Its the ideal place to initiate a low risk entry (pilot entry) and pyramiding up if it goes with the trend.
Next levels it can test is the small resistance zone 130-145 in near future. While 290-360 is the main supply zone for long term .
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
