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shadowthenoobtrader

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

Long
KNR CONSTRUCTIONS (NSE:KNRCON)  
shadowthenoobtrader Updated   
NSE:KNRCON   KNR CONSTRUCTIONS
Trend Analysis Harmonic Patterns Chart Patterns
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0
trendanalysis harmonicpatterns chartpattern
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

Trade active
Comment:
It has been able to sustain the lower trend line and now moving towards the target. Safe traders keep trailing stoplosses.
Trade closed: stop reached
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