Prestige Estates and PB Fintech among top picks by Choice Broking

Choice Broking's Sachin Gupta has recommended three stocks, Prestige Estates, PB Fintech and Carborundum Universal, based on their positive technical setups.

Disclaimer: This article is written by Sachin Gupta, VP - research, Choice Broking. Views expressed are his own. Readers' discretion is advised.

 

The domestic equity market ended Friday on a largely steady note, with the benchmark indices showing limited movement. The BSE Sensex added 3.11 points to close at 77,540.83, while the NSE Nifty 50 settled at 24,252.00, gaining 20 points, or 0.08 per cent. In the broader market, the Nifty Midcap 100 and Nifty Smallcap 100 finished 0.10 per cent and 0.69 per cent higher, respectively, while sectoral indices on the NSE ended mixed, with Nifty Metal and Nifty Private Bank among the top gainers.

 

 

Stocks To Buy: Recommendations by Sachin Gupta, Choice Broking

Prestige Estates

Gupta suggests buying Prestige in the cash segment at ₹1,630, with a stop loss at ₹1,580 and a target price of ₹1,700. The stock is showing signs of renewed bullish momentum after breaking above the upper trendline of its recent falling consolidation pattern.  The stock has closed at ₹1,631, comfortably above the 50-day EMA at ₹1,581.6 and 100-day EMA at ₹1,537.2, keeping the medium-term structure positive.  The RSI has improved to 54.36 and moved above its signal line, indicating strengthening momentum. Sustaining above the ₹1,620–₹1,630 breakout zone could support further upside towards ₹1,680–₹1,700, while ₹1,580 remains an important near-term support.

 

PB Fintech (Policy Bazaar) 

 

Another pick from Gupta is Policy Bazaar in the cash segment at ₹1,790, with a stop loss at ₹1,755 and targets of ₹1,850/₹1,870. The stock is exhibiting a bullish technical setup, currently trading around ₹1,795, above its key moving averages and the Ichimoku Cloud, indicating strong medium-term momentum.

 

However, it is approaching a crucial resistance zone of ₹1,850–₹1,870, which also aligns with the falling trendline on the chart. The RSI at around 70 reflects strong momentum but also suggests that the stock is nearing the overbought zone, leaving room for some consolidation or profit booking.

 

Overall, the technical bias remains positive, with sustained trading above ₹1,790 likely to reinforce the bullish momentum and support further upside.

 

Carborundum Universal 

 

Gupta also suggests buying Carborundum Universal in the cash segment above ₹1,180, with a stop-loss at ₹1,120 and a target of ₹1,280.

 

Carborundum Universal is showing a positive technical setup, with the stock witnessing a strong rebound from the ₹1,081 level. A Bullish Engulfing pattern formed on the daily chart in the previous session, signalling renewed buying interest. 

 

The stock has sustained this momentum today as well, gaining nearly 3 per cent and closing around ₹1,170. The stock is trading comfortably above its 50-day EMA of ₹1,094 and 100-day EMA of ₹1,046, keeping the broader trend constructive. The RSI has improved to 59.10 and remains above its signal line, indicating strengthening momentum. A sustained move above the ₹1,180 level could open the door towards ₹1,250–₹1,280, while ₹1,120 is expected to act as an important support zone.