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Prestige shares set for buy zone after technical recovery, analyst says
The brokerage’s Sumeet Bagadia cited a weekly chart recovery, targeting ₹1,810 to ₹1,888 with a ₹1,615 stop-loss.
Prestige shares have been gaining, up over 2% in a week and 0.62% year-to-date, after a recovery from lower levels, according to LiveMint Markets.
Choice Broking’s Sumeet Bagadia recommended Prestige as a Raksha Bandhan stock pick for investors, setting a target price range of ₹1,810 to ₹1,888 and a stop-loss at ₹1,615.
The analyst pointed to a positive weekly technical setup, including trading above key moving averages, support from a rising weekly trendline and the 50-week EMA, and consolidation around ₹1,600 that could form a base.
Bagadia said buying opportunities could be considered around ₹1,642, with further accumulation on declines toward ₹1,615, while monitoring the ₹1,520 support zone to maintain the stock’s positive structure.