While it’s totally possible to get through the game without ever countering or parrying attacks, it’ll make MUCH quicker work of a number of boss fights – and while this might be obvious to some players, it can be easy to forget about amidst the many other systems in play. To parry, take control of Cloud and do the following. Note: This only works against physical melee attacks and if the attack is too powerful it will fail.
Lock onto an enemy during by pressing R3. Put Cloud in Punisher mode by pushing triangle Wait for an enemy to make a melee attack, and just when it’s about to land, block with R1. Cloud will deflect the attack and make a brutal counterattack in slow motion.
The Parry Materia guards against enemy attacks and allows you to quickly unleash your next attack.
Essentially, anyone can Parry with this Materia equipped and equipping this Materia to Cloud allows him to Parry even when in Operator mode. Using R1, Dodge, and move the joystick left or right to effectively block/avoid attacks. R1, Dodge, and moving towards the attacking enemy allows you to do a bit of damage. Parry allows Cloud to stay in Punisher mode, even while dodging. Parry Materia
Buy Price Level 1 Level 2 Level 3 Use Parry
Increase the damage dealt with Parry and slight increase in ATB boost.
How to Get Parry Materia
Purchase from Chadley after completing the Battle Intel Report 12.
[Source : ign]