3MINDIA at Breakout Crossroads📅 Chart Type: Daily
📉 Structure Observed: Downtrend Channel → Breakout Attempt → Symmetrical Triangle
📌 Current Price: ₹29,620
🔍 Chart Analysis Summary:
3M India has been under a prolonged downtrend since mid-2023, clearly respecting the falling channel (highlighted in blue). However, since March 2025, a base seems to be forming, and price action has converged into a symmetrical triangle pattern (yellow lines), signaling a potential breakout.
💥 Trade Ideas
✅ Long Trade (High Risk, High Reward):
If price decisively breaks out above the triangle resistance (~₹30,000+), it could be the first real sign of trend reversal after months of weakness. Potential targets could be:
₹31,200 (resistance zone)
₹33,500+ (previous swing highs)
Stop-loss: Below ₹28,800 (lower triangle boundary)
Risk: Moderate-High (False breakout possibility due to low volume)
⚠️ Risky Trade:
Given the triangle formation at the end of a downtrend, this could also be a bearish continuation pattern. A fake breakout followed by rejection could trap bulls.
💡 Avoid trading until confirmation (volume spike + close above resistance or breakdown)
📉 Short Trade:
If price breaks below ₹28,800 with volume, the stock could revisit:
₹27,000 (March support)
₹25,000 (channel support retest)
Stop-loss: ₹30,100 (triangle resistance)
Risk: Medium
Reward: High if channel resumes downward
🔁 Swing Trade Perspective:
This setup is ideal for swing traders who thrive on breakouts or breakdowns from tight consolidations.
📈 Breakout Swing: Enter above ₹30,000 with target ₹33,500
📉 Breakdown Swing: Enter below ₹28,800 with target ₹25,000
🧠 Wait for confirmation candle (daily close + volume) before entry.
📌 Key Zones to Watch:
Resistance: ₹30,000 – ₹31,200
Support: ₹28,800, ₹27,000
Volume Spike: Needed to confirm move direction
🧠 Final Thoughts:
This is a make-or-break level for 3M India. Traders should be cautious but alert. Whether you're bullish or bearish, this consolidation is unlikely to last much longer — and a sharp move is imminent.
"In the market, the biggest profits often come from waiting for the right setup. This might be one."
📉💰 Trade responsibly. Always manage your risk.
