SUMMARY
Premier Explosives share price targets: Shares of Premier Explosives Ltd snapped their five-day gaining streak in the current session a day ahead of the defence firm's Q4 results on May 29. The stock market will remain closed on May 28 on account of Bakrid.
Premier Explosives shares slipped 2.47% to Rs 708.45 in the current session against the previous close of Rs 726.45. Total 0.36 lakh shares of the firm changed hands amounting to a turnover of Rs 2.60 crore. Market cap of the firm rose to Rs 3886 crore.
In the previous session, the defence stock hit a 52-week high of Rs 779.60. Since then, the multibagger stock has slipped over 9% from that mark.
In the five preceding sessions, the Premier Explosives stock had gained nearly 50%. The market sentiment on Dalal Street was also buoyant after another defence firm delivered a stellar set of Q4 earnings. Apollo Micro Systems' net profit zoomed 163% to Rs 36.8 crore in Q4 compared to Rs 14 crore in Q4 FY25. Revenue zoomed 81% year-on-year to Rs 293.3 crore, led by robust execution against its swelling defence order book.
However, analysts seem bullish on the counter in the short term.
Hitesh Tailor, Technical Research Analyst at Choice Broking said, "Premier Explosives has delivered a strong bullish breakout on the weekly chart after decisively surpassing the major resistance zone near Rs 680–700 levels, indicating continuation of the broader uptrend. The stock has witnessed sharp momentum buying supported by strong price expansion and is currently trading above its key 20, 50, 100 and 200 Week EMA levels, reflecting robust long-term strength. The recent breakout also confirms a consolidation breakout from a multi-month sideways range, which now turns into an important support area for the stock. The broader structure continues to indicate higher highs and higher lows formation, supporting sustained bullish momentum. RSI on the weekly chart is placed near 72, indicating strong momentum, though the stock may witness short-term consolidation after the steep rally. As long as Premier Explosives sustains above the breakout zone near Rs 680 levels, the positive trend is likely to remain intact, with potential upside towards Rs 850–900 levels over the medium term."
Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Premier Explosives Limited has given a strong breakout above the major resistance zone near Rs 560 with a sharp bullish candle supported by heavy volume expansion, indicating strong buying momentum. The stock is trading above all key EMAs (20/50/100/200), confirming a healthy medium-term uptrend, while RSI near 78 reflects strong momentum though slightly overbought in the short term. Fresh entry can be considered on dips near Rs 690-700 for targets of Rs 760 and Rs 820 with stop loss at Rs 670. Existing holders should trail stop loss near Rs 685 to protect gains while maintaining bullish bias."
Technical analyst Jigar Patel shared his views on outlook of the stock. Patel from Anand Rathi advised booking profit in the stock.
"Support is placed at Rs 680, while resistance stands at Rs 735. A decisive breakout above Rs 735 could open the door for further upside towards Rs 750. For the short term, the stock is expected to trade within the Rs 680 –Rs 750 range," said Patel.
The multibagger defence stock has risen 773% in three years and zoomed 2371% in five years. In terms of technicals, the relative strength index (RSI) of the stock stands at 79.9, signaling it's trading in the overbought zone.
The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Premier Explosives Limited is primarily engaged in the manufacture of high energy materials and allied products for the defence, space, mining and infrastructure industries. The company's geographical segments include India and the Rest of the world. It is focused on developing and manufacturing solid propellants for rockets and strap-on motors for satellite launch vehicles.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
FAQs
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What happened to Premier Explosives share price ahead of its Q4 results?
Premier Explosives shares slipped 2.47% to Rs 708.45 in the latest session after a five-day rally. The decline came just ahead of the company’s Q4 results, which are scheduled for May 29.
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What are the key share price targets for Premier Explosives according to analysts?
Analysts remain positive on the stock in the short to medium term. Choice Broking sees potential upside towards Rs 850–900 if the stock holds above Rs 680, while Bonanza has suggested targets of Rs 760 and Rs 820 on dips near Rs 690–700.
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What are the important support and resistance levels for Premier Explosives stock?
The key support for Premier Explosives is around Rs 680, with another buying zone seen near Rs 690–700. On the upside, resistance is placed near Rs 735, and a breakout above this level may push the stock towards Rs 750 and higher.
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Is Premier Explosives stock overbought at current levels?
Yes, the stock appears to be in the overbought zone in the near term. Its RSI was reported around 79.9, and analysts have indicated that some short-term consolidation or profit booking may happen after the sharp rally.
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What does Premier Explosives do and why is it attracting investor interest?
Premier Explosives manufactures high energy materials and allied products for defence, space, mining and infrastructure sectors. It is attracting attention because of strong price momentum, a bullish technical setup, and its presence in strategic segments such as solid propellants for rockets and satellite launch vehicles.
Published on: May 27, 2026 10:02 AM IST
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