MBEL — Breaking Out of Falling Wedge After Base Formation
M & B Engineering Limited declined from a peak near ₹520 in November 2025 down to lows around ₹280–300 by March 2026, before carving out a falling wedge pattern — a bullish reversal/continuation structure marked by converging trendlines with lower highs and lower lows, but at a decelerating pace.
Key observations:
Current price: ₹337.70, up 5.66% today, breaking above the wedge's upper trendline with strong momentum.
Support/base zone: ₹304–337 (shaded red), representing the recent consolidation range and wedge lower boundary.
Target/resistance zone: ₹337–480 (shaded green), the next major area of interest if the breakout sustains, with the prior swing high near ₹480 acting as a longer-term reference point.
Today's move breaks decisively above the descending trendline that had capped price since November, on a notable volume pickup.
Bias:
The breakout above the falling wedge, backed by strong volume and a 5%+ move, favors bullish continuation. A sustained hold above ₹337–340 keeps the path open toward ₹400+ and eventually the ₹480 zone. A failure to hold above ₹320 (former resistance turned support) would weaken the setup and suggest a false breakout.
Not investment advice — for educational/analysis purposes only. Please do your own research before trading.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.