PARAS DEFENCE is involved in developing systems for defense and space applications. It operates under five segments, Defense & Space Optics, Defense Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions and Niche Technologies.
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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.
A bullish Inverted Head & Shoulder Chart Pattern Breakout on the Weekly Time frame of NSE:PARAS
Price Action supported by very good volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list and initiate the long trade as per the levels mentioned on the chart
Stop loss will be on a...
Stock Name - Paras Defence and Space Technologies Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 620
#This is not Buy and Sell recommendation to any one....
Paras Defense has formed a descending triangle pattern.
Given the recent correction in the Price of Paras Defense and the emphasis placed on defence stocks.
I recommend to go long
SL- BELOW 660-650