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PARAMOUNT COMMUNICATIONS LTD.PARAMOUNT COMMUNICATIONS LTD.PARAMOUNT COMMUNICATIONS LTD.

PARAMOUNT COMMUNICATIONS LTD.

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PARACABLES trade ideas

Stock Analysis: Paramount Communications LtdIntro Paramount Communications Ltd. is involved in the manufacturing of wires and cables comprising of power cables, telecom cables, railway cables, and specialised cables. Clientele includes Indian Railways, BSNL, RailTel, Tata Projects Limited, Adani Renewables, Adani Power, L&T, Siemens, etc. Fundasmentals Market Cap: ₹ 2,378 Cr.; Stock P/E: 24.5 (Ind. P/E: 37.52) ROCE14.7 %; ROE18.4 % Compounded Profit Growth 3 Years: 202% Compounded Sales Growth 3 Years: 27% Technicals The stock has been trading in a box pattern for over five months. It has strong support around 69, followed by 63 and 48 levels. Resistance levels: 86, 98, 116 levels In the last couple of sessions, the stock showed a positive volume spurt, indicating interest among institutional investors. For greater returns, the stock should trade above 87 levels in the weekly closing. Similarly, 20EMA (black line) should cross above 50EMA level (orange line).
NSE:PARACABLESLong
by shanmurali
Order Block Reversal Setup on Paramount Communications LtdTechnical Observations: Order Block Zone: The stock is trading near a significant order block support zone (highlighted in purple), which aligns with past accumulation and breakout levels. This zone has acted as a strong demand area, indicating that buyers may step in again. Trendline Base: The green trendline, respected for an extended period, provides additional support, strengthening the likelihood of a reversal. Buyers' Liquidity Zone: The orange trendline within the consolidation phase suggests that buyers' liquidity is accumulating, supporting a potential move higher. Decline in Volume: A notable decline in volume during the recent downtrend signals reduced selling pressure, which often precedes a reversal. Resistance Levels: A resistance zone around ₹90–₹100 (red zone) and an ultimate target of ₹116 (highlighted in purple) offer clear profit-taking levels. Trade Setup: Entry: Consider buying in the range of ₹64–₹66, close to the order block zone. Stop Loss: Place a stop loss below ₹61.08, ensuring protection in case of invalidation. Targets: 1st Target: ₹85–₹90. 2nd Target: ₹116 (key resistance level).
NSE:PARACABLESLong
by MyT_Trader
PARACABLES! The Cable Company with Big Clients.- Good P/E (28.0), & Good ROE (19.4%) - Quarterly results are ok. (Net Profit: 22 --> 29 --> 25) - Very Good YoY Growth. (Net Profit: 8 --> 48 --> 86) - VCP Pattern. Needs a push. - Levels are marked in the chart. - Big Clients (Both Government and Private) like Indian Railways, BSNL, RailTel, Tata Projects Limited, Adani Renewables, Adani Power, L&T, Siemens and others. - Total order book of Rs. 361 Cr as of H1FY24. Do support my idea if it is useful. For educational purposes only. Not a buy/sell recommendation.
NSE:PARACABLESLong
by azuriste
PARACABLES Trendline breakoutPARACABLES (CMP 85) is breaking out of trendline on weekly chart, Pretty decent volume in last couple of weeks.. RSI moved above 55, DMI are expanding on weekly chart with PDMI moving above 25. If it is closes above 87 by weekly closing tomorrow then looking good to go long with support below 69 DCB... P.S. I am not SEBI registered analyst, This post is for educational purpose only.. DYOR or consult your financial advisor before taking any action on this post...
NSE:PARACABLESLong
by Abhi_Katkar
Multi year Breakout after 15 yearsThe stock recently experienced a multi-year breakout, marking a significant event after a 15-year period. Additionally, there was a rounding bottom pattern breakout, supported by good volumes. After breaking out, the stock retraced to retest the breakout levels and exhibited a strong bounce with a bullish candle. Furthermore, there was a short-term trendline breakout on the daily chart, signaling a potential shift in the stock's short-term trajectory. The combination of a multi-year breakout, rounding bottom pattern breakout with good volumes, successful retest, and short-term trendline breakout paints a comprehensive bullish picture. Traders and investors may find these technical signals compelling, indicating the potential for sustained upward momentum in the stock. Following a strict SL is important.
NSE:PARACABLESLong
by nsdtrading