KNR Construction on the Highway to Resistance NSE:KNRCON 1M TF
🏭 INDUSTRIALS
(Infrastructure/Manufacturing – Govt Capex Tailwinds)
Hyderabad-B’luru Highway Contract-FIIs ↑2.7%
At the time of charting NRC was trading at 211
Trend 1M TF: Multi-year upward channel intact (orange lines), but price currently near the lower channel support.
Key Levels:
Immediate support: ₹176–180 (monthly support zone).
Resistance levels: ₹291–295 (Bullish Order Block + pivot S), then ₹353 (P) and upper channel resistance ₹470.
Structure: Price has been in a descending wedge (mini downtrend) within the bigger channel → typically a bullish reversal pattern.
Previous big red candles show capitulation; recent candles show reduced selling pressure → possible accumulation.
strong hands absorbing supply.
Breakout confirmation: Monthly close above ₹230–235 would validate wedge breakout and bring ₹291–353 in play.
📊 3. Fundamental Alignment (FA)
Macro context:
KRC operates in infrastructure/industrial RE/parks (if Krishnagiri/K Raheja Corp Ltd). Sector aligned with capex cycles and logistics growth in India.
Government push for Make in India, manufacturing, and warehousing supports demand.
Valuation: After a deep correction, valuations are at the lower end of historical range, making it attractive for long-term investors.
🧰 4. Strategic Outlook
►we'll follow this trade closely and within incoming week we'll up a close up view of 4h TF
Bias: Bullish reversal bias as long as ₹176 monthly support holds.
Accumulating around ₹185–211 zone.
Alternate scenario: Breakdown below ₹176 on volume → price could retest ₹150–140 support zone.
Always DYOR
See you on the other side
💡 Reflective Close
"Multi-year support zones often define💰trades for patient investors. Are you ready build positions when the market narrative is still fearful?"
