Shares of Zen Technologies are consolidating in a range after a major 31% correction from the June high this year. The defence stock closed at Rs 2,229.8 on June 4. The multibagger stock, which rose 633% in three years and gained 1,830% in five years, was trading at Rs 1,537 today, down 31% in over four months.
Market cap of the firm rose to Rs 13,902 crore on BSE. The multibagger stock gained 5% to Rs 1543 on Wednesday. The stock hit a 52 week low of Rs 946.65 on February 19, 2025 and touched a 52 week high of Rs 2627.95 on December 24, 2024.
With the stock trading in a range in the short term, analysts share mixed views on the outlook of the defence stock.
Jigar S Patel from Anand Rathi says, “Support will be at Rs 1450 and resistance at Rs 1550. A decisive move above the Rs 1550 level may trigger a further upside of Rs 1600. The expected trading range will be between Rs 1450 and Rs 1600 for the short-term.”
Osho Krishan from Angel Broking said, “Zen Technologies has been consolidating near the 20 DEMA after a massive correction from Rs 2000 subzone, suggesting a breather for the counter. On the levels front, Rs 1400 is likely to be seen as intermediate support and any breakdown is likely to disrupt the near-term outlook. On the higher end, Rs 1600- Rs 1650 is likely to be seen as an intermediate hurdle, and a decisive breakthrough could only aggravate some buying traction in the counter.”
A R Ramachandran, SEBI registered Independent analyst says, “Zen Technologies stock price is sideways to bullish on the Daily charts with strong support at Rs 1440. A Daily close above resistance of Rs 1536 could lead to a target of Rs 1800 in the near term.”
Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio said, “Zen Technologies is forming a double bottom pattern on the daily time frame near its support zone. A decisive breakout will be confirmed only on a close above Rs 1574. Buying volume has been rising on up-days, indicating strong accumulation by market participants. The RSI is trending upward, supporting the positive price action.”
“One can buy above Rs 1574 if the stock closes above that level for some sessions. The stop loss can be fixed at Rs 1500. The stock can be bought for a target price of Rs 1700 to Rs 1800,” added Kamble.
Ravi Singh, SVP – Retail Research, Religare Broking said, “The stock’s daily chart witnessed a robust bearish outlook with a significant volume spike during the gap-down. This small-cap defence stock has witnessed a correction of more than 30% since June 2025. On the daily chart, stock prices are placed below its key moving averages of 20-day and 50-day EMAs and trade within a range of Rs 1400 to Rs 1550. Overall price structure remains cautious and investors should ignore adding a fresh position in this stock. Investors are advised to exit existing long positions to guard against further downside, as any decisive fall below the Rs 1400 level could propel the decline toward the Rs 1300 to Rs 1260 range in the near term.”
Om Mehra, Technical Research Analyst, SAMCO Securities said, “Zen Technologies stock is attempting to stabilise after a prolonged corrective phase, with the stock gradually consolidating in the Rs 1,430–Rs 1,500 zone. In the latest session, the stock continues to reflect a base formation after a prolonged weakness. On the higher side, the 50-SMA near Rs 1,560–Rs 1,570 is the first major obstacle, and a decisive close above this band could trigger a move towards around Rs 1,680. Stock support at Rs 1,450 and a deeper cushion around Rs 1,420; downside risk appears limited. Sustaining above these levels can keep the stock in a positive setup, while a breakout above the 50-SMA would mark the start of a fresh upswing. Currently, Zen Technologies remains in a consolidation phase and investors with a long-term horizon can consider gradual accumulation from current levels. The stock has the potential to resume its broader upward trajectory.”
In terms of technicals, the relative strength index (RSI) of Zen Technologies stands at 45.4, signaling it’s neither oversold nor overbought on charts. Zen Technologies stock has a one-year beta of 1, indicating average volatility during the period. Zen Technologies shares are trading higher than the 5 day, 10 day, 20 day, 30 day but lower than the 50 day, 100 day, 150 day and 200 day moving averages.
Zen Technologies Limited designs, develops, and manufactures defence training systems, based on sensors and simulators technology. The company’s category of products includes land-based military training simulators, driving simulators, live range equipment and anti-drone systems.
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