Menon Bearings Breaks the Shackles! Trendline Resistance Smashed

📊 Technical Analysis: Menon Bearings Ltd. (NSE: MENONBE)

🧠 Chart Pattern: Downtrend Breakout

• The stock had been in a long-term descending trendline (resistance) since mid-2023.
  
• After several months of lower highs, the price has finally broken above this descending resistance on strong momentum.
  

🚀 Breakout Details (May 15, 2025):

• Close: ₹120.25
  
• Day’s Move: +₹10.11 (+9.18% gain)
  
• Volume: 412.5K — significantly above average, confirming strong buyer interest.
  

📌 Technical Signals:

• Resistance Breakout: The trendline acting as a ceiling has now been breached convincingly.
  
• Volume Confirmation: The surge in volume supports the validity of the breakout.
  
• New Higher High: This move breaks the previous swing highs, hinting at trend reversal.
  

🎯 Potential Upside Target:

• Based on the recent base range of ₹85–₹115 (~₹30), the projected upside target could be:
  
• Target 1: ₹130
  
• Target 2: ₹145+ (medium-term)
  

🛡️ Support Zone:
Post-breakout retest support near ₹108–₹110.