Buy MakeMyTrip | NASDAQ MMYT | Naranj Capital

 BUY   MakeMyTrip (NASDAQ: MMYT)

MakeMyTrip (NASDAQ: MMYT) STOCK RECOMMENDATION

Idea BUY
Buy Range 79.5 – 81
Target 88 – 90
StopLoss* below 74
Duration 14-15 Trading Days
Potential Returns 9% – 11%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 79.5 – 81 88 – 90 below 74 14-15 Trading Days 9% – 11%

* Once the first target hit, reset the StopLoss at your buying price.

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

MakeMyTrip (NASDAQ: MMYT) STOCK OVERVIEW

MakeMyTrip Ltd. is an online travel company that offers a wide range of services and products to make your travel experience seamless. From booking air tickets, hotels, and packages to rail tickets, bus tickets, and car hire, we have got you covered. We also provide ancillary travel requirements such as foreign currency exchange services, visa processing, and access to travel insurance products. Our brands, MakeMyTrip, goibibo, and redbus, cater to different travel needs and preferences. With three segments – Air Ticketing, Hotels and Packages, and Bus Ticketing – we ensure that you can easily book domestic and international tickets for flights and buses. Our Hotels and Packages segment offers holiday packages and hotel reservations to make your trip even more enjoyable. Founded by Deep Kalra and Rajesh Magow in 2000, our company is headquartered in Gurgaon, India.

Stock Data
NASDAQ Symbol MMYT
Sectoral Index Consumer Discretionary
52 Weeks High 89.83
52 Weeks Low 25.75

MakeMyTrip (NASDAQ: MMYT) - RELATIVE STRENGTH

MMYT-RELATIVE STRENGTH

Relative Performance - Last 1 Year

MakeMyTrip —     NASDAQ —

MakeMyTrip (NASDAQ: MMYT) - DAILY TECHNICAL ANALYSIS

MMYT-DAILY TECHNICAL ANALYSIS
MakeMyTrip (NASDAQ: MMYT) - Technical Analysis (Daily)
  • The price is showing a strong uptrend, consistently forming higher highs and lows.
  • After reaching a near all-time high around the 90 level, the price corrected and found support near the 75 level.
  • Supported by decent trading volume, the price has resumed its upward movement.
  • As long as the price stays above the 75 level, the overall sentiment remains positive.

MakeMyTrip (NASDAQ: MMYT) - RSI

MMYT-RSI
MakeMyTrip (NASDAQ: MMYT) - RSI
  • Current RSI of this stock is 58.44, which indicates the strength of buyers.

MakeMyTrip (NASDAQ: MMYT) - EMA Cross

MakeMyTrip (NASDAQ: MMYT) - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last dayโ€™s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

MakeMyTrip (NASDAQ: MMYT) - OBV

MakeMyTrip (NASDAQ: MMYT) - OBV
  • The OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.

CONCLUSION - MakeMyTrip (NASDAQ: MMYT) STOCK PRICE FORECAST

Based on our stock trading advice in USA, MakeMyTrip stock price target will be USD 88 – USD 90 in the next 14-15 trading sessions.

MakeMyTrip (NASDAQ: MMYT) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance ofย Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as aย Certified Financial Technician (CFTe)ย by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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