🔑 Key Breakout Zone Retest in Samvardhana Motherson

The weekly chart of Samvardhana Motherson International Ltd. is showing an interesting setup combining both technical and fundamental signals. 📊 Technical View Elliott Wave Structure: The stock seems to have completed a corrective wave (ABC) around the ₹80–85 zone and has now started a fresh impulsive leg. The recent breakout above ₹101–102 indicates the beginning of Wave 3, often the strongest in Elliott structure. MACD Divergence: On higher timeframes, MACD histogram shows bullish divergence compared to price lows formed in July–August. This suggests momentum accumulation beneath the surface. AVWAP Levels: The anchored VWAP taken from the recent swing high aligns near the ₹101–102 zone, now acting as a major support. The current price around ₹108 is comfortably holding above this band. 💡 Fundamental View Strong Financials: Healthy ROCE above industry average, indicating efficient capital allocation. Consistent revenue and profit growth, supported by strong global automotive demand. Diversified client base and strategic acquisitions, making fundamentals robust for long-term investors. 🎯 Key Levels to Watch Support Zone: ₹101–102 (confluence of AVWAP + horizontal support) Immediate Resistance: ₹115–118 (previous supply zone) Medium-term Target: If Wave 3 unfolds strongly, price has potential to head toward ₹135–140.