MMTC Limited BUY

 

7 January 2026, MMTC Limited is exhibiting a strong bullish momentum on the technical charts. Following a significant rally in late December 2025, the stock is currently consolidating near its resistance zone.

Here is the detailed technical view for MMTC based on a Current Market Price (CMP) of approximately ₹69.99.

Technical Overview

The stock has recently completed a Bullish Flag & Pole breakout on the daily charts and is showing signs of a Cup and Handle pattern on the shorter timeframes (1-hour). It is currently trading above all major Exponential Moving Averages (EMAs), including the 50-day and 200-day lines, which confirms a healthy uptrend.

1. Short-Term View (1–4 Weeks)

The short-term trend is Bullish but Overbought. The stock has seen a rapid move from ₹54 to ₹70, so some minor consolidation or a "pullback" to the ₹65–₹67 range is possible before the next leg up.

Trend: Strongly Bullish with high volume support.

Immediate Target: ₹75.30

Secondary Target: ₹80.50

Stop Loss (SL): ₹64.50 (on a closing basis).

2. Long-Term View (6–12 Months+)

For a long-term breakout, the stock needs to decisively cross and hold above the ₹73–₹75 resistance zone. If it sustains above ₹75, it enters a "blue sky" zone with significant upside potential.

Trend: Positive (Reversal from long-term consolidation).

Primary Target: ₹100.00

Extended Targets: ₹132.00 and ₹155.00

Stop Loss (SL): ₹51.00 (Deep support; a close below this negates the long-term bullish structure).

Key Technical Indicators

Indicator Status Observation RSI (14) 64.3 Neutral to Bullish; not yet in the extreme overbought zone (>70). MACD Bullish The MACD line is comfortably above the signal line. Moving Averages Bullish Trading above 50-DMA (₹62.20) and 200-DMA (₹63.60). Support Levels ₹67.50, ₹64.00 Strong accumulation zones. Resistance Levels ₹71.00, ₹75.00 Immediate hurdles to watch.

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Analyst Note: MMTC is a high-beta PSU stock, meaning it can be highly volatile. While the technicals are strong, the low revenue growth in recent quarters suggests this is primarily a momentum and sentiment-driven play rather than a purely fundamental one. Always trail your stop loss upward as targets are met to protect your capital.