KNR CONSTRU LTD.Long
Unlock KNRCON’s : Riding the Bullish Breakout to New High
KNR Construction Ltd (KNRCON), a few key features can be observed:
Weekly High: Around 415
Weekly Low: Around 202.53
Current Price: Around 352.95
Breakout Structure (BOS): The stock seems to have experienced a breakout above resistance.
Here’s a potential trading strategy based on the current data:
1. Support and Resistance Levels:
Resistance Level: ~415 (near the weekly high) – if the stock moves towards this level, it could face selling pressure.
Support Level: ~308 (50% Fibonacci retracement) – this can act as a strong buy zone in case of a correction.
Long-term Support: ~202 (weekly low) – strong support level.
2. Entry Strategy:
Breakout Trading: Since the stock has broken out from a previous resistance (BOS), a good entry point would be around the current price (352.95), with a target near the next resistance level (415).
Pullback Entry: If the stock retraces, consider entering around the 50% retracement level (308) with a stop loss below the next support level (255).
3. Stop Loss:
For an aggressive trade, place the stop loss around 308.
For a more conservative approach, place the stop loss around 255 (75% Fibonacci retracement).
4. Target Levels:
First Target: ~388 (previous highs)
Second Target: ~415 (weekly high)
Long-Term Target: If momentum remains strong, potential breakout beyond 415 could lead to a higher upside.
Weekly High: Around 415
Weekly Low: Around 202.53
Current Price: Around 352.95
Breakout Structure (BOS): The stock seems to have experienced a breakout above resistance.
Here’s a potential trading strategy based on the current data:
1. Support and Resistance Levels:
Resistance Level: ~415 (near the weekly high) – if the stock moves towards this level, it could face selling pressure.
Support Level: ~308 (50% Fibonacci retracement) – this can act as a strong buy zone in case of a correction.
Long-term Support: ~202 (weekly low) – strong support level.
2. Entry Strategy:
Breakout Trading: Since the stock has broken out from a previous resistance (BOS), a good entry point would be around the current price (352.95), with a target near the next resistance level (415).
Pullback Entry: If the stock retraces, consider entering around the 50% retracement level (308) with a stop loss below the next support level (255).
3. Stop Loss:
For an aggressive trade, place the stop loss around 308.
For a more conservative approach, place the stop loss around 255 (75% Fibonacci retracement).
4. Target Levels:
First Target: ~388 (previous highs)
Second Target: ~415 (weekly high)
Long-Term Target: If momentum remains strong, potential breakout beyond 415 could lead to a higher upside.
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