Paramount Communications Ltd is engaged in manufacturing of Wires and Cables comprising of power cables, telecom cables, railway cables and specialised cables.
Power Cables
Railway Cables
Telecom Cables
Domestic Wires
Exports
EPC Projects
Pipe & Others
Order book - Rs 443.5 cr
The 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...
Paracables broke out of a falling trendline with improving volume.
Entry - CMP (look for dip if possible) highly doubtful as it hits UC
Target - 44
SL - Below recent swing low
Study the chart and trade responsibly.
**Trade update
**After a long time period (almost one year) gave breakout.
** Triangular pattern with 4 touches on lower side( support zone) and 6 touches on counter trendline ( more the touches, breakout will sustain)
**This is a circuit script so the big targets can be...
PARAMOUNT COMMUNIC ....
1 - double pattern
2 - inverted h&s and cup and handle
3 - multi year BO (14 years )
4 - good volume
5 - monthly rsi 69 bullish momentum
6 - price trading above 100 ma
7 - forming higher low
buy above day high
buying idea on paramount communication for holding purpose
taking support over 200 days moving average
good name in optical fiber
fundamentally still a good company
good to have in portfolio for future prospect
PARACABLES,,W & M chart are in formation of cup & HANDLE Pattern.
Daily cart forming inverted Head & Shoulder pattern.
Above all the moving averages too.
This could be a multi bagger stock.
All levels are marked on chart itself.
All analysis are for educational purpose only.
This my second idea on this stock, my first idea was published on 24th of May. So, this stock gives a breakout with good volume & it looks very well on monthly and weekly time frame, buy with stoploss of (SL : - 17 or 16) for targets (T1: - 33.85) and (T2: - 38.45). Also analyze on your own. Happy Trading...
TARGET MARKED!!!
Forming H&S pattern. Breakout done!!
Keep an eye.
Disclaimer: Chart is shared only for educational purpose. Before investing please consult your financial advisor.
The Stock in it's trading history has tried 3 times to break the particular resistance level but has actually failed to do so. Now on Friday it has touched the particular mark and it is highly probable that it can give breakout to much higher levels.
The Stock has tried 3 times in its trading history to break these levels. And it has touched the sames level on Friday, now it is highly probable that the stock will cross the given level this time.
