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Price and trend forecast of PARAS for Tomorrow, Weekly, Monthly

Paras Defence and Space Technologies Limited

Symbol: NSE:PARAS

ISIN: INE045601015

699.70

As on 2024-04-12

491.15 (52W Low) 848.00 (52W High)

PARAS's Today's Performance

Paras Defence and Space Technologies Limited started the day by opening at 699.70 today 2024-04-12. Its shares reached a high of 706.80 and dipped to a low of 697.15 in intraday. When the markets closed, PARAS’s stock price settled at ₹699.70 per share. Also check out its key support and resistance levels.

PARAS Buy/Sell Targets

Tomorrow, sell PARAS when its price reaches ₹ 699.70 with a stop-loss order at ₹ 705.83. You can set the target price as ₹ 693.57 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of PARAS for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for PARAS

Resistance Levels Value in ₹
Tomorrow Resistance 1 705
Tomorrow Resistance 2 711
Tomorrow Resistance 3 715

Important Supports for PARAS

Support Levels Value in ₹
Tomorrow Support 1 696
Tomorrow Support 2 692
Tomorrow Support 3 686
Based on where the stock opens tomorrow, if PARAS opens on a positive note, our first target will be ₹705. If Target 1 is achieved, we will aim for Target 2 which is ₹711.

But if PARAS falls below the average value of ₹701.22, you can enter a sell side position with target number 1 - ₹696 and second target - ₹692 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of PARAS

Looking at PARAS, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, PARAS has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for PARAS is moderate bullish.

Tomorrow's Volume based share price Forecast for PARAS

PARAS's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -37%.

Reversal detection for PARAS

Predicted trend chart of PARAS tomorrow for price forecast
PARAS may trend may continue to be bearish since stock is making lower low and we can get target of ₹702 in morning tomorrow
Target 1 tomorrow705
Target 2 tomorrow707
Target 3 tomorrow711
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with PARAS's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if PARAS opens on a positive note, our first target will be ₹705.28. If Target 1 is achieved, we will aim for Target 2 which is ₹710.87.

But if PARAS falls below the average value of ₹701.22, you can enter a sell side position with target number 1 - ₹695.63 and second target - ₹691.57

PARAS's Weekly Targets
1st Up Target 712.17
2nd Up Target 724.63
1st Down Target 690.87
2nd Down Target 682.03

As the week for PARAS ended on bearish sentiments, we can expect further continuation of this sentiment. PARAS's initial target will be 712.17 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 690.87 in the upcoming week.

Weekly OHLC Values
Open 715.80
High 715.80
Low 694.50
Close 699.70

Week for PARAS started with an open price of 715.80, and the close was at 699.70. PARAS reached the highest of 715.80 and dipped lowest up to 694.50 last week. This indicates a bearish sentiment for the week.

PARAS full month swing targets
Monthly Up Target 1 733.47
Monthly Up Target 2 745.93
Monthly Down Target 1 669.57
Monthly Down Target 2 639.43

Targets of ₹733.47 can be expected to be reached in the coming month. Once PARAS achieved this target, we can aim for the next upside target of ₹745.93.

PARAS if fails to hold upside, down targets of ₹669.57 and ₹639.43 can be achieved by end of this month.

For complete three weeks if PARAS is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as PARAS

Symbol Name Industry
LT Larsen & Toubro Limited Engineering & Construction
ADANIPORTS Adani Ports and Special Economic Zone Limited Marine Shipping
HAL Hindustan Aeronautics Limited Aerospace & Defense
SIEMENS Siemens Limited Specialty Industrial Machinery
BEL Bharat Electronics Limited Aerospace & Defense

Summary

PARAS is expected to reach the target of 705.28 in tomorrow's trading session.

After achieving the initial target in PARAS, we will aim for higher targets of 710.87 tomorrow.

However, if PARAS starts to trade below ₹701.22, then we will shift our focus to the sell side and aim for down targets of 695.63 and 691.57.