PRESTIGE trade ideas
Swing price projection for Prestige estates..Used Fibbo and recent swing low to project future price - Expect a rise to between 480- 500 from current price of 266. Stop loss will be 25% ATR of new highs.
Reasons -
1) Magic number projection from long Trend line support - at 125-133%
2) No near term resistance , there can be some consolidation at 300 and 340 levels
PRESTIGE broke 200DMA levelPRESTIGE broke 200DMA level with good volume and took support at 21 EMA, however at 260-280 levels momentum may pause at either of these tow levels, as it is a GAP on daily chart. then it may continue it's uptrend.
Prestige Target3: 350Gave breakout on previous resistance level of 245. Now it acts as support. RR is good with 245 as sl & target of 294 & 350/-
Scope of 17 % earning Positional view Prestige Estates ProjectsPositional view Prestige Estates Projects
PRESTIGE LONG GO LONG FOR PRESTIGE SHORT TERM FOR TARGET OF 220/ 235 /250
REASONS
1 EMA 10 CROSSES EMA 30 (DAY)
TRENDLINE BREAKOUT OBSERVED
BULLISH TREND OBSERVED
221 MAJOR RESISTANCE
