Paras defence is a stock from defence manufacturing sector.
Stock has formed inverted head and shoulders pattern.
Risky traders can enter before breakout for better risk reward.
Stock will fly once the neckline is crossed. Decent stock for long term as defence sector is major beneficiary of India's Make in India program.
Two scenarios possible in the stock HAL , a possible downmove towards 2660-2670 levels which is a major support zones
Scenario 1 : A possible bottom formation at support zones of 2660-70 and stock can resume its uptrend and also towards 3000 levels
Scenario 2 : A breakdown of support zones 2660 levels will confirm a double top formation in the stock and can fall...
ZENTECH is a Indian company, involved in manufacturing drones and other technical stuff required by the DEFENCE system.
According to its present momentum ,a very good stock for long term.
It's now available at its lowest price, grab more....
Since Indian govt took initialization for drone manufacturing, most of...
487.5 IS AN IMPORTANT LEVEL TO CONSIDER FOR BHARATFORGE AS IT ACTED AS A SUPPORTED IN THE PAST.
NOW THE SAME LEVEL IS ACTING AS RESISTANCE .
WATCH OUT FOR A STRONG CLOSE ABOVE 487.5 BEFORE ENTERING A LONG POSITION.
ALSO REMEMBER THAT ALL DEFENCE STOCKS CAN BE BULLISH FROM HERE
Look at the charts and make an informed decision.