knocking from top end

I found out the knocking is come from the top end and bottom end like I thought but I am not sure what could be causing the knocking anyone now what it can be plus when started and running and it had abit of grayish blackish think smoke so any idears what could be causing it

witch volvo is it sir....

s60 2.4 turbo petrol

what mileage has it got on it and the year....could be crank bearings going....worn rings...from what you have said sounds like a new engine job...loads of lads on here that will have a better idea sir...