Paras defence stock, should you book profit or hold after listing gains

Paras Defence stock after IPO Listing:

 We have informed the viewers of our website before listing the IPO of Paras Defence that the stock of Paras Defence can give multiple returns even after IPO listing & One may buy the stock after listing. The stock of Paras Defence has also given multiple returns post IPO listing. We mentioned that if any investor and trader is not allotted shares in the IPO, then he can also buy the stock of Paras Defence after listing. Today we will guide new traders and investors what to do in Paras Defence stock now. We will discuss the technical levels as we have already discussed the fundamentals, you can read this article of our website by clicking on this link in detail.

Read Previous Recommendation: Paras defence stock hold or sell after listing

 Paras defence stock delivered even better returns than we expected and made a 52 week high of 1258 post listing. Now the stock is seeing a lot of profit and the stock of Paras Defence is closed at 789rs (15-Nov-2021). Now many traders and investors who would have been greedy would have been trapped at the higher prices and smart traders would have booked profits at higher levels as well. We had suggested to book profit on higher levels of stock. Let discuss what should now  if anyone had not booked big profit because still stock is offering multiple returns from IPO price. Can you buy paras defence stock at current price? Some new traders might be thinking of buying the Paras Defence stock. 

Read below New Recommendation on Paras defence

What you should do in Paras defence stock?

Should you hold or sell paras defence stock it will depend on the price movement of the stock. Even we have not much data for setting technical levels into the paras defence stock but still we will try our best for our website viewers to give best price targets and stoploss for paras defence stock.

After making 52 week highs of 1258.20rs, share price of the paras defence came down as part of big profiting and trading around 789rs per share. After reach at 52 week high, stock price was highly over valued therefore we had see nearly 490rs per share profit booking into the stock.

 should you book full profit in paras defence stock?

As per our analysis paras defence stock is under highly selling pressure but stock of paras defence may take strong support around 745rs. If stock takes support from this price level then we may see sharp bounce back into the paras defence stock price which can take stock price of paras defence up to the level of 810rs but We will not recommend new investors to invest in this stock as of now. It will be better opportunity to take exit from paras defence stock. Because again we may see heavy selling pressure into the stock even valuation of the stock is not giving confidence for making new investment. If risky traders or shor term traders want to trade into Paras defence stock then keep stoploss of 742rs or 740rs on the closing basis for the short term targets of 810rs to 818rs in the coming days. This call will only for risky traders and investors with highly recommended strict stoploss . Otherwise avoid it.

Can you buy Paras defence stock?

Technical levels in Paras defence stock.

As we have discussed above that valuations of paras defence stock is not supporting for buying at current levels but still if any new investor or trader want to play safe into paras defence stock then

 1) buy above 832rs or 835rs price levels, also stock has to give closing above these levels with good volumes. In this situation paras defence stock may reach to 865rs to 880rs price levels.

2) If stock gives another close above price level of 902rs for few days and sustains above this levels then raise stoploss to 875rs and set price target of 965rs in Paras defence stock.

3) If Paras defence stock gives another close above 985rs price level then again we will see up move into the stock which can take paras defence stock price upto 1090rs + levels.

It is need to be noted that Follow the price levels as we have discussed for making any new buying positions if call trigger then set strict stoploss as we have recommended above and book profit as well.

What is the best price level to buy Paras defence stock?

There is nothing bad with the company. Even fundamentals of the company are very strong but every stock has fair value. Paras defence has already given multibagger returns in few weeks only. We were expecting such targets in the coming 2 to 4 years which stock has given after IPO listing. Now it is better to settle the paras defence stock at lower price levels then start accumulate the stock. If selling pressure will not stop into the stock the stock price of paras defence may reach to 635rs or below levels in coming weeks.

Our New Recommendation on Paras defence:

New buying is only recommended as mentioned above price levels otherwise wait for more correction of 10% to 15% into the stock if comes. We have to check coming few quarters results of the coming for making fresh investment in the stock.