Comments
Investors with a short-term perspective can consider buying the stock of Prestige Estates Projects at current levels. The stock gained 3.6 per cent accompanied with above average volume, breaking through the key immediate resistance as well as trend-deciding level of ₹180 on Thursday. The stock has surged 9 per cent this week and conclusively breached its 21- and 50-DMAs.
Since taking support in early December at around ₹145, the stock has been on a medium-term uptrend. Short-term trend is also up. The daily relative strength index has entered the bullish zone from the neutral region and the weekly RSI is trending upwards in the neutral region. The DMA convergence divergence indicator is moving higher in line with the price action. The short-term uptrend can extend and reach the price target of ₹191 and ₹195 in the upcoming trading sessions. Buy the stock with a stop-loss at ₹179.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.