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Hello,
First of all don't worry. One exam can't predict your ability. So move forward and keep trying.
Now coming to your query, as you tell your concepts are strong. So if you don't want to waste your one year. Then you should go for mhcet exam. As mhcet also covered very good colleges. But if you are determined to be an IIT Ian, then there is no problem in trying for a second attempt.
Good luck!
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