MCX – Bullish Breakout Near Key Resistance

MCX is showing a constructive bullish setup after breaking out from a falling-wedge pattern. The price action indicates improving momentum, with the stock holding above important support zones while gradually moving toward key resistance levels. 🔎 Technical View The falling-wedge breakout is an important technical development, indicating a potential shift from the previous consolidation/downward structure toward a more positive price trend. The stock is currently holding above the ₹3,400 support zone, while the formation of higher highs and higher lows suggests improving buying interest. The RSI is around 64, indicating positive momentum while still remaining below the traditionally overbought zone. This supports the current bullish structure, although price confirmation around the major resistance levels remains important. 🔑 Key Levels Support: ₹3,400 – ₹3,191 Major Support: ₹3,077 Resistance: ₹3,500 – ₹3,608 🚀 Potential Upside Levels Target 1: ₹3,500 Target 2: ₹3,608 Target 3: ₹3,817+ A sustained move above ₹3,500 could strengthen the bullish structure and potentially open the way toward the ₹3,608 and ₹3,817+ levels. On the downside, a break below ₹3,191 may weaken the current setup and require closer monitoring of the next major support around ₹3,077. Overall, the technical structure remains constructive as long as the key support zones continue to hold. Traders and investors should monitor price action around ₹3,500–₹3,608 for confirmation of further momentum. ⚠️ Disclaimer: This content is provided strictly for educational and informational purposes and should not be construed as investment advice or a buy/sell recommendation. Please conduct your own research and consider your risk profile before making any investment decision. — AALGO BREATHS 📊