MMTC trade ideas
MMTC | Multiyear Breakout📊 DETAILS
Sector: Trading
Mkt Cap: 8,235 cr
MMTC, a public sector undertaking, was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and Government of India and is engaged in trading across minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons.
TTM PE : 47.33 (High PE)
Sector PE : 104.73
Beta : 1.55
📚 INSIGHTS
Strong Performer
Stock with good financial performance alongside good to expensive valuation, but lacks price momentum as suggested by technical indicators
42.88% away from 52 week high
Underperformer - MMTC down by -6.02% v/s NIFTY 50 up by 7.89% in last 1 month
📈 FINANCIALS
Piotroski Score of 6/9 indicates Average Financials
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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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.