POSITIONAL TRADING ADVICE
BUY Prestige Estates Projects (NSE: PRESTIGE)
PRESTIGE ESTATES STOCK RECOMMENDATION
|Buy Range||160 – 165|
|Target||184 – 187|
|Duration||7 – 10 Trading Days|
|Potential Returns^||9 – 12%|
|CP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Returns^|
|170.05||BUY||160 – 165||184 – 187||155||7 – 10 Trading Days||13 – 15%|
# CP – closing price on June 05, 2020.
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 177.
^ Potential returns are calculated based on the median of buy range.
PRESTIGE ESTATES COMPANY OVERVIEW
Prestige Estates Projects Limited (NSE: PRESTIGE) along with it’s subsidiaries develops a range of real estate development projects focusing on residential apartments, villas, plotted developments, integrated townships, commercial and corporate office blocks, technology parks and campuses, hotels, resorts and shopping malls. Their operations are spread across South India, Pune, Goa and Ahmedabad. The company also offers a variety of services through their real estate services business, which includes the provision of property management services for their commercial and residential developments, sub-leasing and fit-out services, project and construction management services, interior solutions services, mall management services and the operation of their hospitality projects. For the quarter ended 31-12-2019, the company has reported a Standalone sales of Rs 2,680.90 Crore, up 148.78% from the last year same quarter sales of Rs 1,077.60 crore. Prestige Estates Projects has reported a Net profit after tax of 213.30 Crore in the same quarter; profit surged by 249%.
PRESTIGE ESTATES STOCK INFORMATION
|Sectoral Index||Nifty Realty|
PRESTIGE ESTATES TECHNICAL ANALYSIS (PRICE ACTION)
- Look at the Prestige Estates historical share price; the stock had been moving in a downwards sloping range since March 27, 2020.
- Last week share price of Prestige Estates had given an upside breakout of its rangebound move in which it had been trading for more than eight weeks, suggest robust upside movement.
- The recent development on the Prestige Estates price front indicates that the stock looks set to continue the next leg of its uptrend.
- Prestige Estates share target is expected to jump by 13% to 15% in the next ten days.
PRESTIGE ESTATES TECHNICAL ANALYSIS (Moving Average)
- The share price closed above 10 and 20 days Moving average crossover, which considered bullish and helped to propel further upside movement.
PRESTIGE ESTATES TECHNICAL ANALYSIS (On Balance Volume)
- As seen in the Prestige Estates chart analysis, the OBV is trading above the 15 days MA of it’s on balance volume.
- The OBV measures the volume change with price to identify the smart money are buying and selling the positions in the stock. This suggests you should invest in Prestige Estates at dips and build long positions with smart money.
CONCLUSION - PRESTIGE ESTATES SHARE PRICE FORECAST
Based on our short term trading advice, Prestige Estates share price target will be 184 -187 in the next few days.
Follow ULTRA EQUITY ADVICE #131 On Social Media
⭐ Ultra Equity Advice # 131— Goodluck Capital (@CapitalGoodluck) June 8, 2020
● Recommendation - BUY
● Expected profit 13-15%
● Duration 7-10 trading days
● Risk : Reward = 1 : 3
(minimum for 1st target)
● Avg Profit ₹ 14,000/Lakh capital in this stockhttps://t.co/BvTyJzYDWU#trading #tradingtips #tradingstrategy