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.
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.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.