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M&M is currently trading at Rs.3,125 and showing signs of a potential breakout from a Flag and Pole pattern on the weekly chart. This bullish formation, supported by strong volumes and upbeat quarterly earnings, indicates possible upward momentum. A decisive close above Rs.3,150 would validate the breakout and could lead to short- to medium-term targets of Rs.3,450 and Rs.3,600. Technically, the stock remains strong, with any dip toward Rs.3,050 offering a good buying opportunity for positional traders. Immediate resistance is placed at Rs.3,300 and Rs.Rs.3,400, where short-term traders may look to book partial profits. On the downside, Rs.2,930 remains a crucial support level—if breached, it may indicate weakness and call for a reassessment of open positions. Momentum indicators are also aligned with the bullish outlook. The Relative Strength Index (RSI) is at 63.78 and moving higher, while the Stochastic RSI has given a positive crossover from the oversold zone—both signaling renewed buying interest. Overall, traders can look to accumulate M&M at current levels and on dips, while watching for a sustained breakout above Rs.3,150 to ride the next leg of the rally.

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