Momentum Rebuilds: Can M&M Hit Recent Highs...?

On 8th September, M&M broke the previous day’s high and rallied nearly 4%. However, it soon entered a gradual downtrend on the hourly timeframe, holding the ₹3575 level (the high of 5th September, now acting as support).

After a day of consolidation, the stock broke below ₹3575 and closed beneath it. In the following session, it faced resistance at the same level but later broke above it again, suggesting a false breakout.

Currently, the stock is retesting this zone. The Volume Profile indicator shows a significant high-volume cluster around ₹3600, adding importance to this level.

📊 Trade Setup

* Entry: ₹3585
* Target: ₹3700 (recent swing high)
* Stoploss: ₹3526

⚠️ Note

Due to uncertainty around the US-India trade deal and developments in the auto sector, volatility may increase. Trade cautiously and manage risk effectively.