Price and trend forecast of MMP for Tomorrow, Weekly, Monthly
MMP Industries Limited
Symbol: NSE:MMP
ISIN: INE511Y01018
342.80
As on 2024-10-30
MMP's Today's Performance
MMP Industries Limited started the day by opening at 330.00 today 2024-10-30. Its shares reached a high of 345.00 and dipped to a low of 328.00 in intraday. When the markets closed, MMP’s stock price settled at ₹342.80 per share. Also check out its key support and resistance levels.
MMP Buy/Sell Targets
Tomorrow, buy MMP when its price reaches ₹ 342.80 with a stop-loss order at ₹ 332.01. You can set the target price as ₹ 353.59 to capture potential gains. This buy 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 MMP 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 MMP
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 349 |
| Tomorrow Down Target 2 | 356 |
| Tomorrow Down Target 3 | 366 |
Important Levels for MMP
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 332 |
| Tomorrow Up Target 2 | 322 |
| Tomorrow Up Target 3 | 315 |
Based on where the stock opens tomorrow, if MMP opens on a positive note, our first target will be ₹349. If Target 1 is achieved, we will aim for Target 2 which is ₹356.
But if MMP falls below the average value of ₹338.60, you can enter a sell side position with target number 1 - ₹332 and second target - ₹322 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 MMP
Looking at MMP, we've seen a Increasing 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, MMP has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for MMP is strong bearish.
Tomorrow's Volume based share price Forecast for MMP
MMP's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 8%.
Reversal detection for MMP
MMP may trend may continue to be bullish since stock is making higher highs and we can get target of ₹336 in morning tomorrow
| Target 1 tomorrow | 345 |
| Target 2 tomorrow | 349 |
| Target 3 tomorrow | 356 |
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 MMP'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 MMP opens on a positive note, our first target will be ₹349.20. If Target 1 is achieved, we will aim for Target 2 which is ₹355.60.
But if MMP falls below the average value of ₹338.60, you can enter a sell side position with target number 1 - ₹332.20 and second target - ₹321.60
MMP's Weekly Targets
| 1st Up Target | 353.53 |
| 2nd Up Target | 364.27 |
| 1st Down Target | 324.53 |
| 2nd Down Target | 306.27 |
As the week for MMP ended on bullish sentiments, we can expect further continuation of this sentiment. MMP's initial target will be 353.53 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 324.53 in the upcoming week.
Weekly OHLC Values
| Open | 322.20 |
| High | 346.00 |
| Low | 317.00 |
| Close | 342.80 |
Week for MMP started with an open price of 322.20, and the close was at 342.80. MMP reached the highest of 346.00 and dipped lowest up to 317.00 last week. This indicates a bullish sentiment for the week.
MMP full month swing targets
| Monthly Up Target 1 | 382.53 |
| Monthly Up Target 2 | 393.27 |
| Monthly Down Target 1 | 295.53 |
| Monthly Down Target 2 | 248.27 |
Targets of ₹382.53 can be expected to be reached in the coming month. Once MMP achieved this target, we can aim for the next upside target of ₹393.27.
MMP if fails to hold upside, down targets of ₹295.53 and ₹248.27 can be achieved by end of this month.
For complete three weeks if MMP 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 MMP
| Symbol | Name | Industry |
|---|---|---|
| ULTRACEMCO | UltraTech Cement Limited | Building Materials |
| ASIANPAINT | Asian Paints Limited | Specialty Chemicals |
| JSWSTEEL | JSW Steel Limited | Steel |
| TATASTEEL | Tata Steel Limited | Steel |
| GRASIM | Grasim Industries Limited | Building Materials |
Summary
MMP is expected to reach the target of 349.20 in tomorrow's trading session.
After achieving the initial target in MMP, we will aim for higher targets of 355.60 tomorrow.
However, if MMP starts to trade below ₹338.60, then we will shift our focus to the sell side and aim for down targets of 332.20 and 321.60.