Choice Broking’s Top Stock Picks: Prestige, PB Fintech, Carborundum

Sachin Gupta, VP – research at Choice Broking, has identified Prestige Estates, PB Fintech (Policy Bazaar), and Carborundum Universal as top stock recommendations. These selections are based on their strong technical setups within the equity market.

Friday’s Market Snapshot

• BSE Sensex: Closed at 77,540.83, up 3.11 points.
• NSE Nifty 50: Closed at 24,252.00, up 20 points or 0.08 percent.
• Nifty Midcap 100: Gained 0.10 percent.
• Nifty Smallcap 100: Saw higher gains of 0.69 percent.
• Top Sectoral Performers: Nifty Metal and Nifty Private Bank.

The domestic equity market experienced minimal fluctuations on Friday, with benchmark indices recording only marginal gains. Broader markets, however, showed more upward movement, reflecting varied performance across segments.

Prestige Estates: Bullish Momentum Ahead

Gupta recommends a buy for Prestige Estates, noting renewed bullish momentum after breaking its falling consolidation pattern. The stock closed above its 50-day and 100-day Exponential Moving Averages, signaling a positive medium-term outlook.

• Buy in cash segment: At ₹1,630.
• Stop Loss: Set at ₹1,580.
• Target Price: ₹1,700.

The Relative Strength Index for Prestige Estates has also improved to 54.36, suggesting strengthening momentum for the stock.

PB Fintech: Positive Bias Nears Resistance

PB Fintech (Policy Bazaar) is another pick, displaying a bullish technical setup as it trades above key moving averages and the Ichimoku Cloud. This indicates an overall positive technical bias.

• Buy in cash segment: At ₹1,790.
• Stop Loss: Positioned at ₹1,755.
• Target Prices: ₹1,850/₹1,870.

However, the stock is nearing a resistance zone between ₹1,850 and ₹1,870, aligning with a falling trendline. Its RSI, currently around 70, suggests it is approaching an overbought zone, which could lead to a period of consolidation.

Carborundum Universal: Rebound and Upside Potential

Carborundum Universal is recommended for purchase above ₹1,180, following a strong rebound from ₹1,081. The stock formed a Bullish Engulfing pattern and gained nearly 3 percent.

• Buy in cash segment: Above ₹1,180.
• Stop Loss: Placed at ₹1,120.
• Target Price: ₹1,280.

Trading above its 50-day and 100-day EMAs, the stock maintains a constructive broader trend. An improved RSI of 59.10 signals strengthening momentum, suggesting further upside potential with a sustained move above ₹1,180.