PL Technical Research: Stock on radar - MMTC

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

STOCK RADAR- MMTC cmp: 33.25, The stock has made a series of higher bottom formation pattern on the daily chart and has resisted near the 200 period daily MA on twice occasions, a decisive close above the 33.60 zone shall see fresh upside for next targets of 40 levels in coming days. With the RSI also consolidating, has indicated strength with potential to rise further in the coming days. One can buy and accumulate this stock with a stop loss of 29 for an upside target of 40 in the short term and 46–48 in the long term.