SWING IDEA - KNR CONSTRUCTIONS
Updated
KNR Constructions, a leading infrastructure development company, is showing technical signals that suggest a potential swing trading opportunity.
Reasons are listed below :
Target - 400 // 450
Stoploss - weekly close below 265
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Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 325 Zone Tested Multiple Times: The 325 level has been a significant resistance zone. The price is now attempting to break through this level, indicating strong bullish momentum.
- Bullish Marubozu Candle on Weekly Timeframe: The recent formation of a bullish marubozu candle on the weekly chart indicates strong buying pressure and suggests potential for further upward movement.
- 50 EMA Support on Weekly Timeframe: The stock is finding support at the 50-week exponential moving average, reinforcing the overall bullish sentiment and providing a strong support level.
- Breaking Out of a 3-Year Consolidation Zone: KNR Constructions is breaking out of a long consolidation phase that lasted for 3 years, signaling a potential new bullish trend.
- Sudden Surge in Volumes: A noticeable increase in trading volumes confirms the strength of the price move, indicating strong investor interest and participation in the current trend.
- Trading at All-Time High: The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains. However, traders should watch for potential overbought conditions or profit-taking at these levels.
Target - 400 // 450
Stoploss - weekly close below 265
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade closed: target reached
1st target achieved : 27%++Comment
Retraced back to support level of 340 and is now bouncing back, we can add more quantity hereComment
new high today, hold!
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