KNR Constructions Limited Stock Forecast

KNR Constructions Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)

KNRCON.BO Signals & Forecast

Mostly positive signals in the chart today. The KNR Constructions Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹377.84 and ₹292.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 30.50%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Thursday, February 15, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for KNR Constructions Limited stock

KNR Constructions Limited finds support from accumulated volume at ₹379.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹12.15 between high and low, or 3.17%. For the last week, the stock has had daily average volatility of 4.31%.

The KNR Constructions Limited stock is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: ₹375.05 (-3.40%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (KNRCON.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect KNR Constructions Limited to open at ₹388.70, and during the day (based on 14 day Average True Range), to move between ₹368.12 and ₹408.38, which gives a possible trading interval of +/-₹20.13 (+/-5.19%) up or down from last closing price. If KNR Constructions Limited takes out the full calculated possible swing range there will be an estimated 10.37% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹379.20, some ₹9.05 (2.33%) from the current price of ₹388.25, our system finds the risk reward attractive.

Is KNR Constructions Limited stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for KNR Constructions Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.250 Strong Buy Candidate Upgraded

Predicted Opening Price for KNR Constructions Limited of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.