Prestige Estate – Bullish Structure Developing

Apr 16

Prestige Estate – Bullish Structure Developing After Prolonged Correction

📅 Date: April 16, 2025
📈 Chart Type: Daily | Exchange: NSE
💡 Purpose: Educational Analysis



🔍 Price Action Overview

After an extended downtrend, Prestige Estate appears to be forming a potential trend reversal structure. A strong bullish candle has emerged from a key support zone, accompanied by multiple technical confirmations that indicate renewed buying interest.

📌 Key Technical Highlights

📉 Downtrend Line Break: The stock has convincingly broken above a descending trendline, indicating a potential shift in trend dynamics.
📊 Indicators Triggered:
✅ RSI Breakout: Momentum is turning positive.
✅ MACD Crossover: Bullish signal crossover observed.
✅ Bollinger Band Squeeze Off: Suggests upcoming volatility with a directional move.
📍 Volume Surge: A notable spike in volume supports the strength of the breakout candle.



🧱 Support and Resistance Zones

🟢 Support Levels:
S1: ₹1148
S2: ₹1098
S3: ₹1071
Broad Support Zone: ₹1000–1050 (marked as Weak Support)

🔴 Resistance Levels:
R1: ₹1272 (Pattern Entry Level)
R2: ₹1252
R3: ₹1302
Major Resistance: ₹1900–2000 (Long-term supply zone)



🔄 Entry Reference Levels (For Educational Illustration Only)

✳️ Early Entry Reference: Above ₹1203
A close above ₹1203 indicates sustained strength and potential continuation.

🧩 Pattern Breakout Entry Reference: Above ₹1272
A breakout above ₹1272 could confirm a larger reversal pattern with room to test higher resistance levels.



⚠️ Important Disclaimer

This analysis is strictly for educational purposes and aims to help readers understand price structure, support/resistance zones, and indicator alignment. It does not constitute investment advice or a buy/sell recommendation. Always consult a registered financial advisor before making any investment decisions. Market participation involves risk and capital protection should be a priority.



📘 Conclusion

Prestige Estate is currently at a critical juncture where momentum indicators, volume, and price action are aligning for a potential upside continuation. Close monitoring of key breakout levels and market conditions will be crucial for informed decision making.



🔔 Let us know your thoughts in the comments – Do you see strength sustaining above ₹1203?
📊 Poll: Will Prestige Estate reclaim ₹1300 in the coming weeks?

Apr 30

Trade closed manually