Cochin Shipyard, Mazagon, BEML, Apollo Micro shares fall up to 48% from 52-week high: Price targets & more 

Defence stocks: Shares of defence sector such as Cochin Shipyard, Mazagon Dock, BEML, Apollo Micro, Zen Technologies, Paras Defence have fallen up to 48% from their 52-week lows, signalling waning of investor interest on bourses. Of late, defence stocks have witnessed volatility due to profitbooking due to high valuations, tepid Q2 earnings and easing of global tensions resulting in fading of risk premium. 

Zen Technologies 

Zen Technologies is the top loser among the defence stocks falling 48.42% from its 52-week high of Rs 2627.95 reached on December 24, 2024. In the current session, Zen Technologies stock slipped 2.59% to Rs 1353.75 against the previous close of Rs 1388.70 on BSE. Market cap of the firm fell to Rs 12,223 crore on BSE. The multibagger stock has gained 593% in three years and risen 1478% in five years. Zen Technologies shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio said, "Zen Technologies is stuck in a sideways-to-weak structure, consolidating between Rs 1,345–1,400 for several weeks. The stock has failed to sustain above the 20-day EMA, indicating persistent selling pressure. Strong support sits near Rs 1,345, the lower end of the consolidation band; a close below this may weaken the structure further. Resistance is seen at Rs 1,420, and a stronger barrier exists at Rs 1,500, where multiple rejections occurred. RSI around 48 suggests neutral momentum. Bias remains sideways with a negative tilt unless the stock convincingly crosses Rs 1,420–1,500.

Shitij Gandhi, AVP – Equity Technical Research, SMC Global Securities said, "Zentech slipped into a weaker zone this week as the stock broke down from a tightening symmetrical triangle formation on the daily chart. The pattern had been contracting for several sessions, reflecting indecision, but the downside breach signals bears gaining control. Price continues to trade below key moving averages, adding to the negative bias, while repeated lower highs highlight persistent supply around the Rs 1,450–1,500 zone. With momentum turning soft, the next support sits near Rs 1,320–1,300, and any pullback may face selling pressure unless the stock reclaims the Rs 1,420 mark with strength."

Cochin Shipyard 

Cochin Shipyard shares have lost 36% from their 52-week high of Rs 2547 reached on June 6, 2025. In the current session, Cochin Shipyard stock slipped 1.19% to Rs 1624.45 against the previous close of Rs 1644 on BSE. Market cap of the defence firm slipped to Rs 42,736 crore on BSE.  However, the multibagger stock has gained 155% in two years and risen 411% in three years. Cochin Shipyard shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

Drumil Vithlani, Technical Research Analyst at Bonanza said, "This stock has been in a clear downtrend, consistently forming lower highs and lower lows, which reflects sustained bearish pressure. It is currently trading below all major EMAs (20, 50, 100, and 200), confirming weakness across short-, medium-, and long-term timeframes. The RSI stands at 34.99, indicating oversold to weak momentum conditions. At present, the stock is trading near a key support zone, with the next important supports placed at Rs 1600 and 1400. On the upside, immediate resistance lies at Rs 1800–1850, and only a close above this zone may signal early strength. Given the prevailing trend and weak indicators, no new positions are suggested at current levels."

Aakash Shah, Research Analyst at Choice Broking said, "Cochin Shipyard is currently trading near Rs 1632, showing signs of consolidation after an extended corrective phase. The broader structure indicates that the stock has been under sustained pressure over the past months, forming a sequence of lower highs along a descending trendline. The inability of the price to reclaim even the nearest moving averages suggests that buyers have yet to establish dominant control. Recent candle formations reflect mild attempts at stabilization, but no strong bullish reversal patterns have emerged. However, the stock is attempting to hold above the short-term support zone near Rs 1600–1610, indicating that sellers may be losing some momentum at lower levels. Volume remains moderate, hinting at accumulation attempts, but not yet strong enough to signal a clear trend reversal. Immediate support lies around Rs 1600– Rs 1580; holding above this region is crucial for any short-term bullish attempt. On the upside, the zone around Rs 1700– Rs 1750 is likely to act as the next major resistance cluster, aligning with the descending trendline and key moving averages." 

Shitij Gandhi, AVP – Equity Technical Research, SMC Global Securities said, "The stock is showing signs of fatigue as it continues to drift lower, shaping a clear descending triangle on the daily chart. Prices keep getting pulled back from the falling trendline, while the Rs 1,640–1,650 zone has turned into a crucial make-or-break support. With key moving averages still above the price, sellers remain in control for now. A slip below this support could pave the way toward Rs 1,580–1,550. However, any strong move above the downtrend line may finally hint at a stabilisation or early rebound."

Mazagon Dock Shipbuilders 

Mazagon Dock Shipbuilders shares have lost 34% from their 52-week high of Rs 3778 reached on May 29, 2025. In the current session, Mazagon Dock Shipbuilders stock slipped 5% to Rs 2483.85 against the previous close of Rs 2616 on BSE. Market cap of the defence firm slipped to Rs 1 lakh crore on BSE. However, the multibagger stock has gained 141% in two years and risen 448% in three years. Mazagon Dock Shipbuilders shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

Drumil Vithlani, Technical Research Analyst at Bonanza said, "This stock remains firmly in a downtrend, consistently forming lower highs and lower lows, indicating sustained selling pressure. It is trading below all major EMAs (20, 50, 100, and 200), which confirms weakness across all timeframes. The RSI stands at a bearish 31.24, highlighting deteriorating momentum. Recently, the stock has broken its important support level of Rs 2590, which further strengthens the downside bias. The next crucial supports are placed at Rs 2450, followed by Rs 2200, where buyers may attempt to step in. On the upside, immediate resistance lies at 2600–2610, and only a strong close above this zone could signal a pause in weakness. Until then, no fresh positions are recommended due to the prevailing negative trend."

Aakash Shah,  Research Analyst, Choice Broking said, "Mazagon Dock is currently trading near Rs 2526, extending its corrective phase after several weeks of downward pressure. The broader price structure indicates consistent weakness, with the stock unable to sustain recovery moves and repeatedly facing selling at higher levels. Recent price action shows the stock drifting lower toward a crucial horizontal support zone. Immediate support rests around Rs 2480–2450, and holding above this zone is critical to prevent deeper downside. A breakdown below this level could expose the stock to further weakness toward Rs 2350–2300. On the upside, any rebound will likely face resistance near Rs 2620–2700, aligning with declining EMAs and congestion zones from previous price action. For short-term traders, maintaining disciplined risk management is essential as the stock tests a significant support area. A tactical long setup may be considered only with a defined stop-loss."

Shitij Gandhi, AVP – Equity Technical Research at SMC Global Securities said, "The stock has slipped into a weak zone as a clear descending triangle breakdown takes shape on the daily chart. Repeated rejections near the falling trendline and the 200-day average highlight persistent selling pressure. This week’s close below the key Rs 2,650 horizontal support confirms a bearish continuation pattern, keeping sellers firmly in control. If the stock fails to reclaim this zone quickly, downside levels toward Rs 2,500–2,450 may unfold."

BEML 

BEML shares have lost 33% from their 52-week high of Rs 2437.43 reached on June 23, 2025. In the current session, BEML stock slipped 4.2% to Rs 1638.65 against the previous close of Rs 1710.50. Market cap of the defence firm slipped to Rs 13,648 crore. However, the multibagger stock has gained 141% in two years and risen 448% in three years. BEML shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

Drumil Vithlani, Technical Research Analyst at Bonanza said, "The stock continues to remain in a clear downtrend, consistently forming lower highs and lower lows, which reflects persistent selling pressure. It is trading below all major EMAs (20, 50, 100, and 200), reinforcing overall weakness across short- mid- and long-term timeframes. The RSI is extremely low at 20.18, indicating oversold conditions but also highlighting strong bearish momentum. The stock has recently broken its key support level of 1900, confirming further downside potential. The next important supports are placed at Rs 1635, followed by  Rs 1500, where buyers may attempt to defend the price. On the upside, immediate resistance lies at Rs 1900. Until the stock shows signs of reversal or closes above resistance, no fresh positions are recommended."

Shitij Gandhi, AVP – Equity Technical Research  at SMC Global Securities said, "The stock extended its sharp decline after breaking decisively below the key Rs 1,900 support zone, confirming a major distribution pattern on the daily chart. Multiple lower highs marked over the past few weeks signalled exhaustion, and the breakdown beneath the 200-day average triggered aggressive follow-through selling. With momentum now firmly tilted in favour of the bears, the next support sits near Rs 1,620–1,580. Any bounce toward the broken support is likely to face fresh supply unless the stock reclaims the 200-day zone with strength."

Aakash Shah, Research Analyst, Choice Broking said, "BEML is currently trading near Rs 1660, continuing its steep corrective phase after several weeks of persistent selling. The broader structure clearly reflects sustained weakness, as the stock has been forming a series of lower highs and lower lows, indicating strong downward momentum. Recent price action shows a sharp decline toward an important support region, signalling heightened caution among market participants. The stock’s inability to reclaim even the nearest short-term EMAs suggests that buyers remain largely inactive, with no significant signs of accumulation yet. The latest candles show strong selling pressure as BEML drifts closer to the crucial horizontal support zone around Rs 1600–1580, which has historically acted as a demand pocket. Volumes have remained moderate, reflecting continued distribution rather than any meaningful reversal attempt. Immediate support lies at Rs 1600–1580, and holding above this area is essential to prevent further downside. A breakdown below this support could widen the decline toward 1500–1480. On the upside, any pullback is likely to face stiff resistance near Rs 1750–1800, aligning with downward-sloping EMAs and previous congestion levels."

Apollo Micro Systems  

Apollo Micro Systems  shares have lost 30% from their 52-week high of Rs 354.65 reached on Sepetember 17, 2025. In the current session, Apollo Micro Systems stock slipped 4.98% to Rs 248.85 against the previous close of Rs 261.90. Market cap of the defence firm slipped to Rs 8352 crore. However, the multibagger stock has gained 807% in three years and risen 1911% in five years. Apollo Micro Systems shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.

Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio said," Apollo Micro remains in a short-term corrective trend, trading below its 20-day EMA and forming a series of lower highs since October. The stock is hovering near an important horizontal support around Rs 245–250, which is crucial for avoiding deeper weakness. A breakdown below this zone could invite further pressure toward Rs 225. Resistance lies at Rs 275, followed by Rs 300, where the previous supply zone exists. RSI near 40 indicates weak momentum with no strong reversal signs yet. Overall view remains negative to sideways unless the stock reclaims Rs 275 with volume.

Paras Defence and Space Technologies 

Paras Defence stock has lost 31.56% from their 52-week high of Rs 971.80 reached on May 19, 2025. In the current session, Paras Defence stock slipped 3.43% to Rs 666.35 against the previous close of Rs 690.05. Market cap of the defence firm fell to Rs 5369 crore. Paras Defence shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

Drumil Vithlani, Technical Research Analyst at Bonanza said, "Paras Defence continues to trade in a sideways corrective phase, holding above the key support zone of Rs 660–670, which has acted as a base for several months. A close below this could shift momentum toward Rs 630, but as long as it holds, the structure remains range-bound. Immediate resistance lies at Rs 705, followed by a stronger hurdle at Rs 745, where selling pressure repeatedly emerged. RSI around 48 shows muted momentum with no clear breakout signals yet. The overall view is sideways, and a positive bias will only emerge if the stock sustains above Rs 705–745 with volume."