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⭐️ Ultra Equity Advice # 131 | Buy | Expected Profit 13-15%

POSITIONAL TRADING ADVICE

 BUY  Prestige Estates Projects (NSE: PRESTIGE)

PRESTIGE ESTATES STOCK RECOMMENDATION

CP#170.05
IdeaBUY
Buy Range160 – 165
Target184 – 187
StopLoss*155
Duration7 – 10 Trading Days
Potential Returns^9 – 12%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
170.05BUY160 – 165184 – 1871557 – 10 Trading Days13 – 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

Stock Data
NSE CodePRESTIGE
Sectoral IndexNifty Realty
52W High426
52W Low133.65
Face Value10
Relative Performance_Prestige Estate Projects vs Nifty Realty

PRESTIGE ESTATES TECHNICAL ANALYSIS (PRICE ACTION)

Prestige Estates Projects NSE PRESTIGE Technical Analysis Daily Price Chart
Prestige Estates Projects Daily Price Chart
  • 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)

Prestige Estates Projects NSE PRESTIGE Technical Analysis - Daily Moving Average
Prestige Estates Projects Daily 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)

Prestige Estates Projects NSE PRESTIGE Technical Analysis Daily OBV Chart
Prestige Estates Projects Daily OBV
  • 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

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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