BREAKOUT STOCKS TODAY

CMP Rs. 488.70

Technical Structure

MM Forgings is witnessing a strong bullish breakout structure after a sustained uptrend over the last few months. The stock is trading close to its 52-week high zone, supported by higher highs and higher lows — a classic trend continuation pattern. Short-, medium- and long-term trends remain firmly bullish, indicating strong positional strength. Price is trading decisively above all key moving averages — 20DMA (439.12), 34DMA (427.12), 50DMA (406.64), 89DMA (366.74) and 200DMA (354.41) — reflecting aggressive buying momentum and sustained institutional participation.

Momentum & Indicator Analysis

Momentum indicators remain constructive and supportive of further upside. RSI at 65.40 reflects strong bullish momentum without entering extreme overbought territory yet. Stochastics (%K 83.21) and StochRSI at 100 indicate strong momentum expansion, suggesting continuation bias though minor consolidation may occur near resistance.

MACD remains strongly positive with MACD (20.46) trading above the signal line (18.36) and a rising histogram, confirming trend continuation. ADX at 27.20 with strong +DMI dominance highlights a strengthening trend environment where buyers maintain control. CCI at 146.84 further reinforces strong bullish momentum, while Williams %R at -10.49 shows price trading near the upper end of its range.

Volatility & Price Behaviour

The stock is currently approaching the upper Bollinger Band at 498.66, signalling a momentum expansion phase near breakout territory. Parabolic SAR at 432.35 remains significantly below current price, confirming continuation of the uptrend. ATR at 24.43 indicates expanding volatility, suggesting strong price participation and breakout potential.

Key Levels

Immediate Resistance: 498 – 503 zone (Upper Band + R1 cluster)
Major Resistance: 518 – 551 region (R2–R3 pivot band)

Immediate Support: 485 – 470 band (Pivot to S1 zone)
Strong Positional Support: 452 – 432 region (S2 + SAR cluster)

Trend Expectation

The overall technical setup remains strongly bullish with the stock trading near breakout territory. Sustaining above the pivot level of 485.93 keeps the breakout structure intact. Short-term consolidation near the 485–498 range may occur before the next directional move, but the broader trend suggests continuation toward higher resistance zones.

Why MM Forgings is a Breakout Stock (Key Reasons)

• The stock is trading near its 52-week high with strong volume expansion, signalling fresh accumulation.
• All moving averages are aligned bullishly, showing a strong trend structure and institutional participation.
• Momentum indicators like MACD, ADX and StochRSI confirm a trend expansion phase, typical of breakout candidates.

Paresh Gordhandas Breakout View

MM Forgings is displaying strong momentum-led price expansion supported by bullish moving average alignment and rising trend strength. Positive MACD structure, strong DMI+ dominance and sustained price action near the upper Bollinger Band suggest continuation potential. While short-term consolidation cannot be ruled out, the overall bias remains constructive as long as the stock holds above the 470–485 support band.