Price and trend forecast of MMFL for Tomorrow, Weekly, Monthly
MM Forgings Limited
Symbol: NSE:MMFL
ISIN: INE227C01017
584.05
As on 2024-09-06
MMFL's Today's Performance
MM Forgings Limited started the day by opening at 596.95 today 2024-09-06. Its shares reached a high of 601.00 and dipped to a low of 581.05 in intraday. When the markets closed, MMFL’s stock price settled at ₹584.05 per share. Also check out its key support and resistance levels.
MMFL Buy/Sell Targets
Tomorrow, sell MMFL when its price reaches ₹ 584.05 with a stop-loss order at ₹ 591.48. You can set the target price as ₹ 576.63 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of MMFL for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for MMFL
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 596 |
| Tomorrow Down Target 2 | 609 |
| Tomorrow Down Target 3 | 616 |
Important Levels for MMFL
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 576 |
| Tomorrow Up Target 2 | 569 |
| Tomorrow Up Target 3 | 556 |
Based on where the stock opens tomorrow, if MMFL opens on a positive note, our first target will be ₹596. If Target 1 is achieved, we will aim for Target 2 which is ₹609.
But if MMFL falls below the average value of ₹588.70, you can enter a sell side position with target number 1 - ₹576 and second target - ₹569 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of MMFL
Looking at MMFL, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, MMFL has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for MMFL is moderate bearish.
Tomorrow's Volume based share price Forecast for MMFL
MMFL's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is 35%.
Reversal detection for MMFL
MMFL may trend may continue to be bearish since stock is making lower low and we can get target of ₹593 in morning tomorrow
| Target 1 tomorrow | 596 |
| Target 2 tomorrow | 601 |
| Target 3 tomorrow | 609 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with MMFL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if MMFL opens on a positive note, our first target will be ₹596.35. If Target 1 is achieved, we will aim for Target 2 which is ₹608.65.
But if MMFL falls below the average value of ₹588.70, you can enter a sell side position with target number 1 - ₹576.40 and second target - ₹568.75
MMFL's Weekly Targets
| 1st Up Target | 597.75 |
| 2nd Up Target | 611.45 |
| 1st Down Target | 575.70 |
| 2nd Down Target | 567.35 |
As the week for MMFL ended on bearish sentiments, we can expect further continuation of this sentiment. MMFL's initial target will be 597.75 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 575.70 in the upcoming week.
Weekly OHLC Values
| Open | 603.00 |
| High | 603.10 |
| Low | 581.05 |
| Close | 584.05 |
Week for MMFL started with an open price of 603.00, and the close was at 584.05. MMFL reached the highest of 603.10 and dipped lowest up to 581.05 last week. This indicates a bearish sentiment for the week.
MMFL full month swing targets
| Monthly Up Target 1 | 619.80 |
| Monthly Up Target 2 | 633.50 |
| Monthly Down Target 1 | 553.65 |
| Monthly Down Target 2 | 523.25 |
Targets of ₹619.80 can be expected to be reached in the coming month. Once MMFL achieved this target, we can aim for the next upside target of ₹633.50.
MMFL if fails to hold upside, down targets of ₹553.65 and ₹523.25 can be achieved by end of this month.
For complete three weeks if MMFL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as MMFL
| Symbol | Name | Industry |
|---|---|---|
| LT | Larsen & Toubro Limited | Engineering & Construction |
| ADANIPORTS | Adani Ports and Special Economic Zone Limited | Marine Shipping |
| HAL | Hindustan Aeronautics Limited | Aerospace & Defense |
| SIEMENS | Siemens Limited | Specialty Industrial Machinery |
| BEL | Bharat Electronics Limited | Aerospace & Defense |
Summary
MMFL is expected to reach the target of 596.35 in tomorrow's trading session.
After achieving the initial target in MMFL, we will aim for higher targets of 608.65 tomorrow.
However, if MMFL starts to trade below ₹588.70, then we will shift our focus to the sell side and aim for down targets of 576.40 and 568.75.