Paras Defence and Space Technologies Limited (PARAS) Stock - Complete Technical Analysis - Aug 30, 2024

Paras Defence and Space Technologies Stock Analysis Key Support and Resistance Levels NSE Insigh

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 (PARAS) is currently trading at 1,272, well below its 52-week high of 1,592.7, indicating a significant decline of 55.3% from the peak. However, it is up by 59.79% from its 52-week low of 445.55, suggesting a potential recovery or upward trend. The Relative Strength Index (RSI) is around the neutral zone, indicating neither overbought nor oversold conditions. The Average Directional Index (ADX) reflects a weak trend, implying that the market is relatively indecisive. Moving Averages show a mix, with the short-term EMAs and SMAs hovering close to the current price, while the 200-day averages are substantially lower, indicating long-term upward potential. The MACD is in negative territory, showing a bearish momentum, but the Awesome Oscillator suggests some underlying bearish pressure is still present. On the bullish side, the Stochastic Oscillator and Williams Percent Range indicate potential for upward movement, being closer to their upper bounds. The Ichimoku Base Line and Hull Moving Average both point towards a recent upward shift, suggesting the stock may be poised for a breakout if it surpasses key resistance levels. The major support levels are around 1,158 and 1,030, with strong resistance levels at 1,503 and 1,720. Traders should watch for price action near these pivot points to confirm the direction of the next major move.