MUNJALAU- ATH Breakout and Retest

Munjal Auto Ind Technical Analysis:
All-Time High Rejection: The price initially faced resistance near the all-time high level, resulting in a rejection and pullback.

Consolidation Before Breakout: The price consolidated for a significant period, indicating accumulation and forming a base before breaking out.

Breakout with Massive Volume: There was a strong breakout above the previous resistance level, confirmed by a surge in volume. This indicates a high probability of continuation to the upside.

Breakout Retest: After the breakout, the price has pulled back to retest the breakout level. Such retests are common and provide an opportunity to enter if the price shows strength.

Bullish Candle at Breakout Level: The presence of a bullish candle at the retest level suggests that buyers are stepping in to support the price, making this a potentially strong entry point.

Entry, Target, and Stop Loss Levels:
Entry Level: The ideal entry is at the current price level, around ₹124. If the price confirms a bullish reversal pattern, you can consider entering above ₹125 for additional confirmation.

Target Levels:
Target 1: ₹138 (Short-term resistance level).
Target 2: ₹150 (Next potential resistance if the price continues to trend higher).

Stop Loss:
Place a stop loss below the recent low or below the breakout level.
Suggested stop loss range: ₹112 - ₹115, to protect against downside risk in case of a failed retest.