Confirms an inverted head and shoulder
The stock of ACME Solar Holdings was trading in a sideways trend since the beginning of February. That is, it was oscillating between ₹218 and ₹238. Last Friday, the scrip rallied sharply and broke out of ₹238, opening the door for further rally. Notably, ₹238 is the neckline of an inverted head and shoulder pattern.
So, the confirmation of this chart pattern shows a bullish trend reversal. Although the pattern indicates a rally to ₹280, given the bullish reversal, we expect the upswing to extend to ₹320. Buy now at ₹255 and accumulate at ₹245. Place stop-loss at ₹225. When the price rises to ₹280 and ₹300, revise the stop-loss to ₹255 and ₹280 respectively. Exit at ₹320.
Paras Defence and Space Technologies (₹638.75)
Hovers near a strong base
The stock of Paras Defence and Space Technologies has seen higher volatility over the last couple of weeks. Nevertheless, the price stays above the support at ₹620, keeping the broader uptrend valid. Since July last year, this base has held well. Also, the 61.8 per cent Fibonacci retracement of the prior uptrend coincides at this level.
Therefore, there is a chance for the stock to see a rebound. It can break out of a notable resistance at ₹770 and rise to ₹930. Go long now at ₹638 and place a stop-loss at ₹580. When the price rises to ₹770, revise the stop-loss to ₹700. Alter the stop-loss to ₹800 when the stock touches ₹850. Liquidate the longs at ₹900.
Vardhman Textiles (₹536.55)
Retain bullish bias
The stock of Vardhaman Textiles has been in an uptrend since the final week of January, when it found support at ₹400. Although the trend has been flat recently, the price action retains the positive bias. So long as the price stays above ₹500, the bias will be bullish. The price is now hovering near the 21-day moving average, which can help begin the upswing.
nce the stock resumes the rally, it can appreciate to ₹700. Therefore, participants can consider fresh longs. Buy now at ₹536 and accumulate if the price drops to ₹505. Place initial stop-loss at ₹480. When the stock rises to ₹600, revise the stop-loss higher to ₹560. Tighten the stop-loss to ₹600 when the price hits ₹650. Book profits at ₹700.
Published on March 14, 2026