Buy Prestige between Rs 230 and Rs 237.Stoploss at Rs 222 :: HDFC Securities

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Observation:
Prestige has broken out of the 216-227 trading range in which the stock was trading for the last 1 week. The 216
levels also roughly coincide with a double bottom level on the charts.
Today’s breakout was accompanied with higher than average volumes, indicating that there was significant
accumulation.
Technical indicators are giving positive signals as the stock trades above the short term (13 day SMA) and long
term (200-day EMA) moving averages. Momentum indicators like the 14-day RSI too are in rising mode and not
yet overbought. The 14-day RSI is also above its 9-day EMA, which is a healthy signal for the stock.
Given the positive technical set up, we believe the stock has the potential to move higher in the coming days. The
upmove is likely to accelerate once the stock crosses the 50-day SMA which is currently at 240. Our entry levels
along with the stop loss and targets are given above.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010719