M&M Key Resistance Breakout – Supply Zone Analysis

This chart highlights the crucial price action of M&M around the 3,265–3,300 INR supply zone. The region has acted as multiple resistance points in the past, making it a significant barrier for bulls. The current move shows a potential breakout above this supply zone, with a breakout target projected towards 3,312 INR. Traders should watch for a sustained close above this level for possible long opportunities. The previous supply now turns into a potential support level, strengthening the bullish bias if retested successfully.
Key Levels:
• Resistance/Supply Zone: 3,265–3,300 INR
• Breakout Target: 3,312 INR
• Support (Previous Supply): Around 3,200 INR
Trading Plan:
Wait for confirmation of a sustained breakout above the supply zone. If the price holds above, consider a buy entry targeting 3,312 with a stop loss below the previous supply.
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