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Price and trend forecast of MMP for Tomorrow, Weekly, Monthly

MMP Industries Limited

Symbol: NSE:MMP

ISIN: INE511Y01018

298.60

As on 2024-04-24

164.05 (52W Low) 309.90 (52W High)

MMP's Today's Performance

MMP Industries Limited started the day by opening at 299.00 today 2024-04-24. Its shares reached a high of 299.90 and dipped to a low of 286.55 in intraday. When the markets closed, MMP’s stock price settled at ₹298.60 per share. Also check out its key support and resistance levels.

MMP Buy/Sell Targets

Tomorrow, buy MMP when its price reaches ₹ 298.60 with a stop-loss order at ₹ 290.34. You can set the target price as ₹ 306.86 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 1 303
Tomorrow Down Target 2 308
Tomorrow Down Target 3 317

Important Levels for MMP

Holding Levels Value in ₹
Tomorrow Up Target 1 290
Tomorrow Up Target 2 282
Tomorrow Up Target 3 277
Based on where the stock opens tomorrow, if MMP opens on a positive note, our first target will be ₹303. If Target 1 is achieved, we will aim for Target 2 which is ₹308.

But if MMP falls below the average value of ₹295.02, you can enter a sell side position with target number 1 - ₹290 and second target - ₹282 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 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, MMP has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for MMP is moderate bullish.

Tomorrow's Volume based share price Forecast for MMP

MMP's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 8%.

Reversal detection for MMP

Predicted trend chart of MMP tomorrow for price forecast
MMP may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹299 in morning tomorrow
Target 1 tomorrow300
Target 2 tomorrow303
Target 3 tomorrow308
 

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 ₹303.48. If Target 1 is achieved, we will aim for Target 2 which is ₹308.37.

But if MMP falls below the average value of ₹295.02, you can enter a sell side position with target number 1 - ₹290.13 and second target - ₹281.67

MMP's Weekly Targets
1st Up Target 312.25
2nd Up Target 325.90
1st Down Target 277.90
2nd Down Target 257.20

As the week for MMP ended on bullish sentiments, we can expect further continuation of this sentiment. MMP's initial target will be 312.25 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 277.90 in the upcoming week.

Weekly OHLC Values
Open 270.90
High 305.20
Low 270.85
Close 298.60

Week for MMP started with an open price of 270.90, and the close was at 298.60. MMP reached the highest of 305.20 and dipped lowest up to 270.85 last week. This indicates a bullish sentiment for the week.

MMP full month swing targets
Monthly Up Target 1 346.60
Monthly Up Target 2 360.25
Monthly Down Target 1 243.55
Monthly Down Target 2 188.50

Targets of ₹346.60 can be expected to be reached in the coming month. Once MMP achieved this target, we can aim for the next upside target of ₹360.25.

MMP if fails to hold upside, down targets of ₹243.55 and ₹188.50 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

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TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

MMP is expected to reach the target of 303.48 in tomorrow's trading session.

After achieving the initial target in MMP, we will aim for higher targets of 308.37 tomorrow.

However, if MMP starts to trade below ₹295.02, then we will shift our focus to the sell side and aim for down targets of 290.13 and 281.67.