Prestige Estates, Avanti Feeds, Jayaswal Neco: How to trade these 3 buzzing stocks

Indian benchmark indices extended their gains for the second straight session on Wednesday led by the optimism over India-EU FTA. However, traders awaited the US Fed's policy meeting outcome on Wednesday. BSE Sensex jumped 487.20 points, or 0.60 per cent, to settle at 82,344.68, while NSE's Nifty50 surged 167.35 points, or 0.66 per cent, to close at 25,342.75.

Select buzzing stocks like Jayaswal Neco Industries Ltd, Avanti Feeds, and Prestige Estates Projects Ltd are likely to remain under the spotlight of traders for the session today. Here is what a couple of brokerage firms have to say on them ahead of Thursday's trading session.  

Prestige Estates Projects | Buy | Target Price: Rs 1,523-1,677 | Stop Loss: Rs 1,250

Prestige Estates is trading within a falling wedge/downward sloping channel after a strong prior upmove, which is a bullish reversal pattern in nature. Price is holding near the lower boundary of the pattern around Rs 1,380–1,400 and is taking support near key moving averages, indicating that selling pressure is gradually easing. A sustained move above Rs 1,523, which is the immediate resistance zone, could trigger a bullish breakout and open up upside potential towards Rs 1,677, aligning with the upper trendline of the pattern and a previous supply zone. From a fundamental trigger perspective, the upcoming Union Budget is expected to be supportive for the real estate and housing sector, with potential measures like tax reliefs, housing incentives, and infrastructure push likely to improve demand sentiment. However, this bullish view remains conditional-strength will be validated only if the price sustains above Rs 1,523 with healthy volumes. Failure to hold above the support zone or a breakdown below Rs 1,250 would negate the setup and keep the broader bias cautious.

Recommended by: Canara Bank Securities  

Jayaswal Neco Industries | Buy | Target Price: Rs 80-86 | Stop Loss: Rs 69

Jayaswal Neco has corrected from its recent high of Rs 94 and is currently trading near its medium - term trendline support, which also aligns with the 100 - day EMA. Historically, the stock has found support near the 100 - day EMA and staged rebounds from these levels, indicating strong buying interest and conviction. From a momentum perspective, the stochastic oscillator is in the oversold zone and is showing early signs of reversal, marked by a positive crossover on the daily timeframe. Immediate support is placed in the 68 –70 zone, which coincides with the key trendline support area. On the upside, the stock is expected to move towards the unfilled gap zone in the range of 80 and 86 , which is likely to act as a resistance area. This zone also aligns with the 61.8 per cent retracement of the previous swing, adding to its technical significance.

Recommended by: Bajaj Broking  

Avanti Feeds | Buy | Target Price: Rs 793-861 | Stop Loss: Rs 734

Avanti Feeds Ltd is trading near the lower end of a downward sloping channel, which is a bullish reversal pattern in nature. Price is attempting to stabilize near the support zone around Rs 760–770, which also coincides with key moving averages, indicating reduced downside momentum. A sustained move above Rs 793, which is the immediate resistance and near-term moving average zone, could trigger a short-term bullish reversal, opening up upside potential towards Rs 861, which aligns with the upper trendline of the pattern and a previous supply zone. From a fundamental trigger perspective, the upcoming Union Budget is expected to be supportive for the agri, food processing, and export-linked sectors, which could improve sentiment for the stock and act as a catalyst for a technical breakout. However, this bullish view remains conditional — strength will be validated only if the price sustains above Rs 793 with healthy volumes. Failure to hold above this level or a breakdown below Rs 734 would negate the setup and keep the broader bias cautious.

Recommended by: Canara Bank Securities