Mahindra & Mahindra (M&M) Scooters stock price on NSE is in a price channel since Mar 2010. The price tried to break out of this channel on 5th and 6th October but could not do so and fell back into the price channel.  

Today's high is close to the upper limit of the price channel, but the stock closed lower than its high so the price may rise tomorrow atleast in the first session.

What happens after the price hits the resistance of the price channel is important to watch.

 

A closer look at today's chart shows an indecisive market.  Also, double tops have formed previously at 744 and double bottoms have formed at 688.  Breaking either of these levels after an indecision day can signal the next move in the market.  Wait and watch.