KNR Constructions , a leading infrastructure development company, is showing technical signals that suggest a potential swing trading opportunity. 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...
KNR Constructions, now at 364.5 on June-20-2024 :: Per Elliott wave, this is in Wave5, Uptrend of wave5 confirmed at 344 There wil be 20% swing in this but ultimately will move higher Targetsprices are --1. 404.65, 442.25, 472.65, 503 So, expected gains of 40% from present price. Support now is till 344
As you see the price is moving inside an ascending channel. It broke out of trendline resistance in August and now retested for potential upside. RSI is adding more confluence by showing strong bullish divergence. It is currently trading at a forward PE of 14+ whereas the industry PE is around 28. A gem amongst its peers with robust fundamentals. Do check its...