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.
Saregama has been consolidating in an ascending triangle flag pattern since past 3 years after giving multibagger returns from 2020. Stock is getting ready for a breakout. If stock gives weekly closing above 360, stock can move quickly towards 500 and them to 750. Nifty media has been underperforming and this stock can fly once Media sector starts its bull run.
Currently, stock has given breakout from resistance and can be taken as a quick swing trade for 2300 target. Stock has a strong trendline supply zone which is around 2300. If this level breaks out, we can see huge rally in the stock and can be held for long term. Stock has good fundamentals and only around 2% is public holding. Good bet in EV sector theme.
This will remain as one of my most favourite idea if breakout goes successful. Trade logic: An inverted head and shoulder breakout is on the cards. The most exciting and unique observation from this chart is that a similar IHNS breakout happened in 2021. But the breakout failed. However, the stock again has created an inverted head and shoulder pattern with the...
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