The stock of KNR Constructions jumped 5 per cent with extraordinary volume on Thursday, decisively breaking above the key resistance at ₹200. For the week, the stock has gained over 9 per cent backed with good volume. Investors with a short-term view can buy the stock at current levels.

Since taking support at ₹170 in late October 2018, the stock has been on a medium-term uptrend. The short-term trend is also up for the stock. While trending up, the stock conclusively breached its 21- as well as 50-DMAs in early December and trades well above them. The daily relative strength index features in the bullish zone and the weekly RSI is hover in the neutral region with an upward bias. Besides, the daily as well as weekly price rate of change indicators feature in the positive terrain implying buying interest.

Overall, the short-term outlook is bullish for the stock. Targets are ₹226 and ₹234. Traders with a short-term perspective can buy with a stop-loss at ₹212.5.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

comment COMMENT NOW