Published on 7/07/2020 3:23:17 PM | Source: HDFC Securities Ltd

Technical Pick -  Buy KNR Construction Ltd For Target Rs. 260 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #Real Estate Sector #HDFC Securities #Trading Report #KNR Constructions Ltd

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Technical Pick -  Buy KNR Construction Ltd For Target Rs. 260 HDFC Securities

Technical Evidences

* Short term trend turnedpositiveas stock price is trading above its 5 and 20 -day SMA

* Stock price has taken support at 50-dayEMA

* Daily RSIoscillator has reached nearbenchmark level of 60, indicating sustainability of the existing trend

* +DIis trading above -DI,indicatingbulls are having an upper hand

* Constructionstockslooking good on the short-termchart

* Considering the technical evidences discussed above, we recommend buying theKNR constructionin two tranches, one between 215and 218and second at203, for the targetsof238and260, keeping a stop lossat 196

Buy KNR Construction Ltd Up to 3 Months @ 215-218 CMP 216.15 Target 238,260 SL 196


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