Paras Defence – Technical Analysis, Support and Resistance

The stock

is showing a short-term bearish trend on the daily chart. After rallying from around ₹600 to nearly ₹1585 the stock has formed lower highs and is facing continued selling pressure. It closed at ₹1177.20, down 2.32% in the latest session. The RSI near 34 indicates weak momentum, while the price is below its 20-day and 50-day moving averages. Support & Resistance: Immediate support is around ₹1130–1150 followed by ₹1080–1100. On the upside, ₹1220–1250 is the first resistance zone followed by ₹1280–1300. Short-Term Buyers & Holders View: Short-term buyers can wait for the stock to stabilise and reclaim ₹1220–1250 with strong volume before considering a recovery scenario. A break below ₹1130 may lead to further weakness toward ₹1080–1100. Holders can monitor whether the stock holds its support zone and starts forming higher lows.