Key Events This Week
2 Feb: Stock opens week at Rs.403.30, down 1.27%
3 Feb: New 52-week high at Rs.452.65 with strong gap up
4 Feb: Hits another 52-week high of Rs.452.9, technical momentum turns bullish
5 Feb: Minor profit booking, stock dips slightly
6 Feb: Week closes at Rs.435.20, down 2.56% on day but up for the week
2 February 2026: Week Begins with a Modest Decline
MM Forgings Ltd. started the week at Rs.403.30, down 1.27% from the previous close, mirroring a broader market weakness as the Sensex fell 1.03% to 35,814.09. Trading volume was relatively low at 3,569 shares, reflecting cautious investor sentiment ahead of anticipated sector developments. The stock’s initial dip set the stage for a strong rebound in the following sessions.
3 February 2026: Breakout Day with New 52-Week High and Gap Up
On 3 February, MM Forgings Ltd. surged sharply, opening with a gap up of 8.62% and reaching a new 52-week high intraday of Rs.452.65. The stock closed at Rs.438.90, up 8.83% on the day, significantly outperforming the Sensex’s 2.63% gain. This rally was supported by strong sector momentum in Auto Components & Equipments and an upgrade in the company’s Mojo Score to 54.0, reflecting improved fundamentals and technical strength.
The stock’s performance was bolstered by its position above all key moving averages (5, 20, 50, 100, and 200-day), signalling robust buying interest. Despite the broader market’s volatility, MM Forgings demonstrated resilience, with a trading volume spike to 17,037 shares, indicating heightened investor activity.
4 February 2026: Sustained Momentum and Technical Bullish Shift
MM Forgings Ltd. continued its upward trajectory on 4 February, hitting a fresh 52-week high of Rs.452.90 and closing at Rs.448.85, up 2.27% on the day. The stock’s three-day cumulative return reached 12.71%, underscoring strong momentum. Technical indicators confirmed a bullish outlook, with the Moving Average Convergence Divergence (MACD) bullish on weekly charts and Bollinger Bands signalling increased buying pressure.
The Castings/Forgings sector gained 2.29%, supporting the stock’s advance, while the Sensex closed marginally higher by 0.37%. MM Forgings’ Mojo Score improved further to 61.0, maintaining a Hold rating, reflecting a stabilising outlook amid sector recovery. Volume moderated to 4,450 shares, suggesting consolidation after the prior day’s surge.
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5 February 2026: Minor Profit Booking Amid Market Consolidation
The stock experienced a slight pullback on 5 February, closing at Rs.446.65, down 0.49% on the day, with volume declining to 1,881 shares. This minor correction followed three consecutive days of gains and reflected typical profit-taking behaviour. The Sensex also retreated by 0.53%, indicating a broader market pause.
Despite the dip, MM Forgings remained well above its key moving averages, maintaining a bullish technical stance. The stock’s beta of 1.08 suggests it is prone to higher volatility, which was evident in the day’s price movement. Investors appeared to digest the recent gains while awaiting further catalysts.
6 February 2026: Week Closes with a Pullback but Strong Weekly Gains
On the final trading day of the week, MM Forgings Ltd. closed at Rs.435.20, down 2.56% on the day with a volume of 2,391 shares. The Sensex edged up 0.10%, closing at 36,730.20. The stock’s decline on Friday was a continuation of the profit-taking trend but did not erase the week’s strong 6.54% gain.
Technical momentum remains positive overall, supported by the recent upgrade in Mojo Score to 61.0 and the stock’s sustained position above all major moving averages. The week’s price action highlights MM Forgings’ resilience amid mixed market conditions and sector-specific strength.
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Daily Price Comparison: MM Forgings Ltd. vs Sensex (2–6 Feb 2026)
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.403.30 | -1.27% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.438.90 | +8.83% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.448.85 | +2.27% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.446.65 | -0.49% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.435.20 | -2.56% | 36,730.20 | +0.10% |
Key Takeaways from the Week
Strong Outperformance: MM Forgings Ltd. outpaced the Sensex by over 5 percentage points, gaining 6.54% versus the benchmark’s 1.51%, driven by sector tailwinds and technical strength.
Technical Momentum Shift: The stock’s move above all major moving averages and bullish MACD and Bollinger Band signals indicate a positive trend, supported by an upgraded Mojo Score of 61.0 (Hold rating).
Volatility and Profit Taking: Despite strong gains midweek, the stock experienced profit booking on 5 and 6 February, reflecting its high beta nature and investor caution after rapid appreciation.
Sector Support: Gains in the Castings/Forgings segment and the broader Auto Components & Equipments sector provided a favourable backdrop for MM Forgings’ rally.
Volume Patterns: Elevated volumes on breakout days contrasted with lower activity during pullbacks, suggesting accumulation rather than speculative spikes.
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Conclusion
MM Forgings Ltd. demonstrated a robust performance during the week of 2–6 February 2026, marked by a significant 6.54% gain that outpaced the Sensex’s 1.51% rise. The stock’s new 52-week highs, technical momentum upgrades, and supportive sector environment underscore a phase of renewed strength. While profit-taking towards the week’s end introduced some volatility, the overall trend remains constructive, supported by improved Mojo ratings and sustained buying interest above key moving averages. Investors monitoring the auto components sector will note MM Forgings’ resilience and relative outperformance as key highlights of the week.
