Stock analysis MM Forgings Limited MMFL

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Moving Averages for MM Forgings Limited

5Day Average: 1038.03
12Day Average: 945.43
20Day Average: 919.55
50Day Average: 918.83
100Day Average: 931.33
150Day Average: 916.6
200Day Average: 926.79

MMFL Indicators & signals

Indicator MACD (12,26,9)

972.75, 937.38, 13.03
Indicator MACD is in positive zone

Indicator ADX (14)

59.03, 33.86, 8.72
Indicator ADX is indicating that momentum is still strong.
Indicator ADX is showing that momentum is towards buying

Indicator RSI (14)

Current RSI is: 64
Indicator RSI is indicating buying momentum and stock might rise.

Recent prices of MMFL MM Forgings Limited are as follows: Daily volume is divided by 10 day averaged volume

Date	Close	Range	Change %	Volume
24 Wed Apr 2024	1054.65	1048.00 to 1087.95	0.06%	0.51 times
23 Tue Apr 2024	1054.00	1038.20 to 1075.50	1.52%	0.5 times
22 Mon Apr 2024	1038.20	1030.50 to 1094.45	-1.85%	1.01 times
19 Fri Apr 2024	1057.75	964.50 to 1087.00	7.33%	3.11 times
18 Thu Apr 2024	985.55	931.00 to 1017.95	7.84%	2.9 times
16 Tue Apr 2024	913.90	848.05 to 940.05	6.08%	1.48 times
15 Mon Apr 2024	861.50	842.55 to 874.95	0%	0.26 times
12 Fri Apr 2024	861.50	858.00 to 884.00	-2.08%	0.26 times
10 Wed Apr 2024	879.80	877.15 to 887.45	0.07%	0.26 times
09 Tue Apr 2024	879.15	876.05 to 886.50	-0.32%	0.14 times
08 Mon Apr 2024	881.95	878.00 to 887.25	0.54%	0.1 times
05 Fri Apr 2024	877.20	875.10 to 886.80	-0.09%	0.15 times

Technical analysis forecast of MM Forgings Limited Stock is that its in a uptrend for shortterm, and I will avoid taking a SHORT or SELL trade in this stock. Look for opportunities to BUY or go LONG in MM Forgings Limited MMFL at this time. Stock is rising and might rise more.

It appears as if MM Forgings Limited MMFL gave a large move recently.

Stock of MM Forgings Limited (MMFL) is trading above an important moving average line, and it has been above this line for quite some time now. This is a good sign, and the stock might keep rising and move higher!

My analysis of MM Forgings Limited is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if MM Forgings Limited stays above 1017.2, but if it comes below 1017.2, then a intra day sell could be more profitable.
If you take a sell trade below 1017.2, then use 1017.2 as stoploss and 946.56 as target. However if you take a buy trade in MM Forgings Limited, then use 1017.2 as stoploss and 1101.9 as target.

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