KNR CONSTRUCTION | BUY or SELL ?? | TECH. ANALYSIS

Mar 20, 2022

Some important observations:

• On the last trading session(i.e 17th March 2022) it opened at 290.50 and experienced a heavy selling which pushed the price to 267.60, but then heavy demand pushed the price upwards(showing buyers interests) and closed at 283.20
  
• Respecting the trend line.
  
• A beautiful bullish butterfly pattern is being formed on a daily time frame.
  

Well, I'm bullish after observing the above points, but there are still two possible scenarios.

Scenario 1: Short

• If it closes below the trend line then we can see it going to 230.
  
• Target = 230
• Stoploss = High of candle.
  

Scenario 2: Long

• If it is able to sustain the lower trend line on 18th March 2022, then we can see a good upside movement.
  
• Target = 330
• Stoploss = Low of the candle
  

Apr 3, 2022

Trade active

Apr 3, 2022

Note

It has been able to sustain the lower trend line and now moving towards the target. Safe traders keep trailing stoplosses.

Apr 30, 2022

Trade closed: stop reached