📈 KNR Constructions – RSI Consolidation, Bounce from Support, Resistance Ahead

🔹 Price Action CMP: ₹204 (+4.81%) – rebound from recent lows. Price tested channel support near ₹190 and bounced back strongly. Now trading close to ₹207 short-term resistance. 🔹 Technical Observations RSI Consolidation: RSI has been range-bound (40–60) → momentum building up. Support Zone: Strong base around ₹185–190 (multiple bounces). Resistance: Falling trendline resistance around ₹225–230 remains a key hurdle. Price Structure: Lower highs continue, but basing out near support. 🔹 Key Levels Immediate Resistance: ₹207 → ₹225. Immediate Support: ₹190. Major Support: ₹185 (recent swing bottom). 🔹 Indicators RSI ~56: Breaking consolidation range, moving towards bullish zone. Volume: Spike visible on bounce → signs of accumulation. Trend: Short-term bounce, medium-term still sideways to corrective. 🔹 Strength & Risk ✅ RSI consolidation breakout → momentum may follow. ✅ Strong support at ₹185–190 provides cushion. ❌ Resistance at ₹225–230 may cap upside unless broken decisively. 🔹 Outlook Short Term: Likely to test ₹207–225 zone. Medium Term: Sustained close above ₹230 → opens path to ₹250+. Risk: Failure near ₹225 could lead back to ₹190 support. 📌 Strategy Traders: Watch for close above ₹207–210 for quick upside. Keep SL below ₹190. Investors: Accumulate gradually near ₹190–200 with SL below ₹185. 📢 Disclaimer: This is educational analysis, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).