Produced by: Aseem Thapliyal
Paras Defence and Space Technologies shares have gained just 4.53% in two years. On the other hand, the stock has lost 8% in the last one month.
In terms of positive returns, the Paras Defence stock has gained a maximum of 43% in a year.
Paras Defence stock hit a 52-week high of Rs 848 on September 8, 2023 and fell to a 52-week low of Rs 471 on April 3, 2023.
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher expects the defence stock to reach Rs 820 level in the short term.
Parekh said the stock has taken support near Rs 610 levels forming a double bottom formation on the daily chart, thereafter witnessing a pullback to improve the bias.
"With the chart looking attractive, we suggest to buy and accumulate the stock for an upside target of 760 and 820 levels in the coming days keeping the stop loss of 605 level," added Parekh.
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