Paras Defence Breaks Key Resistance: SEBI RA Anupam Bajpai Eyes ₹1,600 Target

After weeks of sideways movement, Paras Defence & Space Technologies (Paras Defence) staged a sharp breakout on Wednesday, gaining nearly 7% intraday and catching the attention of technical analysts.

SEBI-registered analyst Anupam Bajpai highlighted that the stock had been consolidating between ₹1,320 and ₹1,475 since April 30, 2025. 

That changed today, with the stock decisively breaking past the upper bound of that range and trading firmly above the resistance level of ₹1,471 — a signal of fresh bullish momentum.

This breakout comes after the stock gave a strong close above its 200-day moving average — a key technical indicator for long-term trend reversal.

According to Bajpai, the price action suggests a possible upward trajectory toward ₹1,600, provided the stock sustains above the new support level of ₹1,475. 

He maintains a bullish view on Paras Defence as long as it continues to trade above ₹1,475.

The breakout also aligns with renewed investor interest in defense and space technology companies over the past few days. 

In a national address regarding Operation Sindoor on May 12, Prime Minister Narendra Modi lauded the performance of India's domestically produced military technology. 

He stated that "Made in India" defense equipment has demonstrated its capabilities in contemporary warfare, encompassing both desert and mountain environments.

With its strategic positioning in India’s defense manufacturing ecosystem and recent momentum on the charts, this stock could remain on traders' radar in the sessions to come.

Paras Defence shares gained 46% year-to-date (YTD).

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