Market experts say that the bullish flat pattern formed in this stock is an indication that the level of Rs 300 is possible in this stock in the next 6-9 months.
Well diversified infrastructure development company KNR Constructions ( KNR Construction ) has seen the stock has increased by slightly more than 50 per cent in the Nifty in the past has doubled in 12 months increased investor wealth during that period.
If we look at the performance of this year so far, KNR Construction has outperformed Nifty. The stock has given a return of 37 per cent during this period, while the Nifty has seen a rise of 13 per cent. While the BSE500 index is up 18 per cent.
The market cap of the company is Rs 6200 crore. It touched its 52-week high of Rs 242.10 on 2 March 2021.
Jatin Gohil of Reliance Securities says that the recent breakout seen from the flag pattern in this stock can take it towards the target of Rs 300. This gain shows an upside of 36 per cent from its June 28 closing of Rs 220 on BSE.
Jatin Gohil says that long term investors can stay in this stock for the next 6-9 months, the recent breakout seen in this stock can take it upwards and higher.
Jatin Gohil recommends to take long position in this stock at current levels also and if it gets around Rs 208 then it will be better but for target of Rs 300 put a stop loss of Rs 188.
