Paras Defence: The Hidden Power of Elliott Wave & Fibonacci

elliott wave fibonacci paras defence Aug 18, 2026

paras-defence-hidden-power-of-elliott-wave-fibonacci

Elliott wave helps to understand the overall maturity of the trend and if the rise is sustainable or not. When combining basic price action and Elliott Wave with technical tools like Fibonacci retracement or Extension, it can lead to remarkable results in trading.

Check out the research below on Paras Defence & Space Technology Ltd. and how to use these two tools to predict the stock's next move.

PARAS Daily chart with Elliott Wave and Fibonacci extension

Elliott Wave and Fibonacci retracement

Since April 2026, PARAS has been trading within the Primary wave (3).
In which the stock recently completed its Intermediate wave 4 on the downside and now the rise is ongoing on the upside in the form of intermediate wave 5.
Following the completion of wave 4 near 1160 level, wave 5 can be observed unfolding on the upside as per guidelines wave 5 usually retraces or tends to equal to wave 1 which derives us the target of 1680 which coincides with 8% Fib retracement of the entire rally started in end of March 2026.

Conclusion

The combination of Elliott Wave structure, price action, and Fibonacci extension suggests a strong technical setup.
As of now, traders should avoid catching tops and can use dips towards 1445 as an opportunity to ride the ongoing wave.
1155 remains a crucial support level to watch in the near term.

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