KNRCON
Analysis! KNRCON Analysis on Daily Timeframe!
Double Bottom Pattern Formation in KNRCON!
Neckline Breakout in KNRCON!
Trend Reversal in KNRCON
KNRCON has made Double Bottom Pattern on a daily timeframe. It has given neckline breakout but experienced high selling pressure around this level. We can observe the retesting is happening now.I have extended previous support trendline we can expect price may take support on this trendline also neckline can acts as a support if we consider current price level. We can see RSI is also trending and took support at support trendline recently it has given breakout to the resistance trendline. So we can expect the price can move upwards.
Entry = Aggressive investors can buy at current levels, Conservative investors can wait for small retest.
Stop Loss = Below 242.65
Targets = 1) 258.95 2) 265.95 3) 271.70 4) 280.40
Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
Comment:
Neckline and Trendline Support Failed.
Trade closed: stop reached:
SL got hit on the 6th of June sorry for the late update!
Avinash K.
