Delhi Capitals will be facing the defending champions in their first IPL final on Tuesday.
Ponting said DC have enough "firepower" to beat any opponent on their day and while respectful of MI, they won't feel intimidated at the prospect of facing them again.
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Eyeing their fifth title, MI will carry a wave of confidence into the summit clash. Not just because of the team they possess but also the fact that they've beaten DC comprehensively in the three previous meetings this season.
Ponting, however, stressed it's important for his team to look at their own strengths.
"Looking back now we are happy, it's been a good season but we are here to win the IPL and we will give it our best shot," said the former Australian captain at the pre-match press conference, as quoted by PTI.
"We got off to a good start but were a bit shaky towards the end but the boys have managed to really play two very good games out of three, and hopefully, we can play our best game in the final."
"Didn't matter that we lost games. Each team won a couple, lost a couple but all of our losses came in a group and it was hard to change the momentum, but the boys did it and we find ourselves in the final and I think our best cricket is yet to come," he added.
After dominating the first half of the league stage, DC lost their way a touch, but then were able to get back to winning ways. Overall, Ponting said his team have played good enough cricket to reach this far, their first IPL final.
"It's not an easy thing to make it to the IPL final. There are a lot of guys who never made one. Thankfully, I have coached one before and I was a part of another team as captain, so I know what it's like to be."
"Probably, the most important thing in big games like this is not to try hard, it's just another game."
"We need to enjoy that, try to embrace the extra nerves that come with the final. All we have is given ourselves the right to play in the final, and now got to go and win that final."
Defeats as bad as they've had against MI can be demoralising. But for Ponting, it's quite exciting that they haven't yet turned up in full steam against them.
"Things will be pretty much the same. We have got enough firepower. If Mumbai would be sitting back and thinking if there is a team they wouldn't like to play, it is us. It's about us, how we turn up and play," he said.
"We have been long away from the best we have played against Mumbai so far. We will try and address some of the areas that we haven't played against Mumbai in the past -- power play batting, death bowling are some.
"So if we rectify those things and play somewhere near our best, then we can (beat MI)," Ponting added.
Ponting also praised Shikhar Dhawan and Marcus Stoinis for their performances in victory over Sunrisers Hyderabad (SRH) in Qualifier 2 and also the entire season.
"Marcus has been dying for an opportunity to bat further up the order but our team balance didn't allow it in the first part of the tournament. With Prithvi and Jinx (Ajinkya Rahane) both being there, it was difficult to give Stoinis opportunity up the order."
"But every time he got the opportunity he played really well. He is a vastly improved player than what he was 12 months ago. He was craving for that opportunity."
"Shikhar is probably having his best season and that's really a very good sign for us. We still didn't have got the best out of Rishabh, so if he happens to fire in the final and then we are capable of making a really big score," Ponting signed off.