Premier Explosives Stock Crashes After Factory Blast — But Analyst Sees Technical Setup Intact

Premier Explosives shares tanked after reports of a fire at one of its factories. A SEBI-registered analyst says the technical setup remains intact and sees buying opportunities at lower levels.
Red candles of the American S&P 500 index are seen in a chart on Trading View on the monitor of a computer in an office. Photo: Silas Stein/ (Photo by Silas Stein/picture alliance via Getty Images)
Red candles of the American S&P 500 index are seen in a chart on Trading View on the monitor of a computer in an office. Photo: Silas Stein/ (Photo by Silas Stein/picture alliance via Getty Images)
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Preeti Ayyathurai·Stocktwits
Updated Mar 05, 2026   |   2:29 PM EST
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Shares of Premier Explosives tumbled as low as 15% on Wednesday following a fatal explosion at the company’s Telangana unit. 

The incident, which has killed three workers and injured six, marks the company’s second major safety breach in 2025 after a January reactor blast. 

The stock, which had closed at ₹467 on Monday, slipped to an intraday low of ₹383 before trimming some losses in afternoon trade. 

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Despite the sharp fall, Premier has gained 20% over the past month, with Stocktwits data showing ‘extremely bullish’ retail sentiment on the counter.

prem expl 130pm.jpg
Premier Explosives sentiment and message volume on April 30 as of 1:30 pm IST. | source: Stocktwits

SEBI-registered research analyst Prabhat Mittal took to Stocktwits to share a technical perspective on the stock’s behavior. 

He pointed out that Premier had formed a triple bottom around ₹309 on the short-term chart and was trading above all key moving averages until the recent fall.

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According to him, the overall setup still looks structurally strong.

Mittal advises traders to consider accumulating the stock in the ₹390–₹380 zone, with a strict stop-loss at ₹359. 

He believes that if the technical support holds, the stock could rebound toward targets of ₹480 and ₹500 in the near term.

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Premier Explosives shares have fallen 21% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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