Multibagger stock hits Rs 1,700 mark for 5th day, up 62% from 52-week low; can it reach Rs 2,000?

Shares of Prestige Estates Projects Ltd are in a bull run. The multibagger stock has risen 62% from its 52-week low in over two months. It fell to a 52-week low of Rs 1048.30 on April 7, 2025. The stock has crossed the Rs 1,700 mark for fifth straight session today, setting a base for an upside move, say analysts.  In the long term, the realty stock nearly tripled investor wealth rising 195% in two years. 

Prestige Estates stock climbed 711% in the last five years. However, the multibagger stock has fallen 16% in the last one year and lost 5% in six months. 

It scaled a record high of Rs 2,072 on June 24, 2024. In Friday’s trade, Prestige Estates Projects stock was trading 2% higher at Rs 1711 on BSE. Market cap of the firm rose to Rs 73,433 crore. Total 4934 shares of the firm changed hands amounting to a turnover of Rs 83.69 lakh on BSE.

Prestige Estates shares have a one-year beta of 1.26, indicating very high volatility during the period. In terms of technicals, the relative strength index (RSI) of Prestige Estates stands at 67.4, signaling it's trading neither in the overbought nor in the overtrading zone.

Prestige Estates shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Jigar S Patel, Senior Manager - Equity Research at Anand Rathi Shares expects the stock to move in a range of Rs 1600 and Rs 1800 in the short term.

"Support will be Rs 1617 and resistance at Rs 1727. A decisive move above the Rs 1727 level may trigger a further upside of Rs 1800," said Patel. 

Om Mehra, Technical Research Analyst, SAMCO Securities said, "Prestige Estates has seen a strong recovery from its recent lows, gaining significant ground over the past few weeks and currently trading above Rs 1700. The stock has reclaimed key short- and medium-term moving averages, including the 20-day and 50-day EMAs, signaling renewed buying interest. The momentum has picked up after the price broke above Rs 1,470- Rs 1,500, which acted as a prior resistance zone." 

"However, the stock is now approaching a crucial falling trendline resistance, drawn from its previous highs around Rs 2,100. This long-standing trendline has capped multiple rallies in the past and is once again acting as a hurdle near current levels. The stock has also formed multiple small-bodied candles near this zone, reflecting hesitation and potential exhaustion in upward momentum. This could be the opportune time for existing holders to consider partial profit-booking as the stock hovers near resistance. For those looking to re-enter or initiate fresh positions, waiting for a healthy retracement toward the Rs 1,570-Rs 1,600 zone could offer a favourable risk-reward setup. Overall, accumulating in tranches on dips would be a prudent strategy," added Mehra. 

Mandar Bhojane, Research analyst, Choice Broking expects the stock to hit Rs 2,000 mark if the uptrend continues. 

"Prestige Estates is currently trading around Rs 1,692.50 and remains in a strong uptrend, having reversed sharply from lower levels after a corrective decline from recent highs. This recovery has taken shape in a classic Cup & Handle formation on the daily timeframe—typically seen as a bullish continuation pattern—signaling potential for further upside if the breakout is confirmed.
If the stock manages to give a sustained move above the Rs 1,760 mark, it could validate the pattern breakout and pave the way for a rally toward the Rs 1,900–Rs 2,000 zone. The stock’s ability to maintain its position above all key moving averages further strengthens the bullish setup and highlights underlying buying interest. Short-term traders are advised to remain patient and look for a decisive breakout above Rs 1,760 before entering fresh positions, as confirmation at these levels could offer a more favorable risk-reward setup," said Bhojane. 

"Long-term investors can continue to hold their positions as long as the stock sustains above the important Rs 1,500 support zone. This level also serves as a technical cushion and trailing stop-loss. The ongoing consolidation and recovery may act as a base-building phase for the next leg of the rally," added Bhojane. 

Sebi registered independent analyst Abhijeet said, "Prestige Estates is bearish on the Daily charts with strong resistance at Rs 1727. A Daily close below support of Rs 1617 could lead to a target of Rs 1500 in the near term."

Prestige Estates is one of the leading real estate developers in the country with its head office in Bengaluru.