LearnersParadise

Knr Construction - Breaking out with Multiple Indications.

Long
NSE:KNRCON   KNR CONSTRUCTIONS
We can clearly see in this chart that it has been respecting a longer term trendline (Weekly). Already tested it multiple times and finally breaking out after a halt near the trendline.
Some key points to learn:-
1) Breaking out after a halt near the trendline.
2) Breaking horizontal resistance too which is exactly at the breakout of trendline.
3) Breaking a psychological level too. (Round Figure of 300) .
4) Closing is good near its highs with good volume and it has given closing above 300 after a long time.
Daily chart for the reference:-
We can clearly see the consolidation in daily chart near its resistance and look closely at the volumes too.

Finally the potential target :-

I hope this will help .
Cheers and Happy Trading.

Comments

Nice analysis 👍👌
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LearnersParadise cabrijendratripathi
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