BREAKOUT ALERT - PARAS DEFENCE

Take a look at the stock chart of PARAS DEFENCE (NSE). On Friday, the stock broke the resistance zone of ₹1570–₹1590 with very high volume (see green circle at the bottom). This strong move with +18.8% gain in one day tells us that buyers are now in control — this is a breakout. A breakout with high volume is a strong signal. It means a lot of people are interested and believe the stock will go higher. What’s Next? If the stock comes back down to retest this breakout zone (called a pullback or retest), it could give a great entry opportunity. This zone is now likely to act as a support. Always look for volume confirmation in breakouts — it adds strength to the move.