Paras Defence and Space Technologies Limited (PARAS) Stock - Complete Technical Analysis - Sep 12, 2024

Paras Defence Stock Analysis Key Support & Resistance Levels September 2024 Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Paras Defence and Space Technologies Limited, currently trading at 1,153, shows a mix of bearish indicators. The ADX suggests a strengthening trend, although the RSI indicates that the stock is approaching oversold conditions. The Stochastic Oscillator and Stochastic RSI are in deeply oversold territory, signaling potential for a rebound or reversal.

The MACD is in negative territory, which reflects a bearish momentum. Additionally, the Momentum Indicator and Commodity Channel Index support this bearish outlook. The Awesome Oscillator and Williams Percent Range further confirm the weakness in the stocks current performance.

Support levels are seen around 1160 to 1255, which align with various moving averages and pivot points. Resistance is evident near 1234 to 1251. Given that the stock is trading below its 52-week high but well above its 52-week low, it indicates that while the stock has made substantial gains, it is currently facing significant resistance and could be in a consolidation phase. Traders should watch these key levels closely as they could indicate potential points of reversal or further decline.