synopsis

Premier Explosives shares tanked after reports of a fire at one of its factories. A SEBI-registered analyst says the technical setup remains intact and sees buying opportunities at lower levels.

Shares of Premier Explosives tumbled as low as 15% on Wednesday following a fatal explosion at the company’s Telangana unit. 

The incident, which has killed three workers and injured six, marks the company’s second major safety breach in 2025 after a January reactor blast. 

The stock, which had closed at ₹467 on Monday, slipped to an intraday low of ₹383 before trimming some losses in afternoon trade. 

Despite the sharp fall, Premier has gained 20% over the past month, with Stocktwits data showing ‘extremely bullish’ retail sentiment on the counter.

Premier Explosives sentiment and message volume on April 30 as of 1:30 pm IST. | source: Stocktwits

SEBI-registered research analyst Prabhat Mittal took to Stocktwits to share a technical perspective on the stock’s behavior. 

He pointed out that Premier had formed a triple bottom around ₹309 on the short-term chart and was trading above all key moving averages until the recent fall.

According to him, the overall setup still looks structurally strong.

Mittal advises traders to consider accumulating the stock in the ₹390–₹380 zone, with a strict stop-loss at ₹359. 

He believes that if the technical support holds, the stock could rebound toward targets of ₹480 and ₹500 in the near term.

Premier Explosives shares have fallen 21% year-to-date (YTD).

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