PL Technical Research: STOCK ON RADAR - MMTC

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

MMTC cmp : - 58.20 has given a good return in the last 3 months, met our long-term target of 48, and made a high of 70, almost double our recommendation level. After a short correction from 70 to 54, which is 0.618% of the retracement level, this stock has again come on radar. The 50 EMA lies around the 51 level, and with strong support at 44 and the RSI improving with volume, one can go long in this stock from an upside target of 80 - 90 in the coming days. keeping the stop loss near the 44 level.