Key Events This Week
23 Feb: Modest gain of 0.15% as market sentiment remained positive
24 Feb: Intraday low hit amid sharp 4.44% price drop
25 Feb: Sharp rise in open interest signalling bearish momentum
27 Feb: Week closes with a 2.49% decline amid broader market weakness
23 February 2026: Modest Gains Amid Positive Market Mood
Prestige Estates opened the week on a relatively stable note, closing at Rs.1,488.50, up 0.15% from the previous Friday’s close. The stock’s volume was moderate at 8,043 shares, while the Sensex advanced 0.39% to 36,817.86. This slight uptick reflected a generally positive market environment, although the stock’s gains were modest compared to the benchmark’s stronger performance.
24 February 2026: Intraday Low Amid Price Pressure
The following day marked a sharp reversal as Prestige Estates succumbed to significant selling pressure, closing at Rs.1,422.40, down 4.44%. The stock hit an intraday low of Rs.1,407.70, representing a 5.43% drop from the prior day’s close. This decline was notably steeper than the Sensex’s 0.78% fall to 36,530.09 and the Realty sector’s 2.52% drop, underscoring the stock’s relative weakness.
Technical indicators showed the stock trading below all key moving averages, signalling sustained downward momentum. The intraday gap down of 2.58% at open set the tone for the day, with persistent selling throughout the session. This price action reflected deteriorating fundamentals and market sentiment, as highlighted by the downgrade to a Strong Sell Mojo Grade with a score of 27.0.
25 February 2026: Bearish Derivatives Activity Signals Further Pressure
On 25 February, Prestige Estates saw a notable surge in derivatives market activity, with open interest rising 10.82% to 13,303 contracts. This increase accompanied a volume of 7,789 contracts and a total derivatives turnover of ₹16,672.4 lakhs, reflecting heightened trading interest despite the stock’s ongoing decline.
The underlying stock price closed at Rs.1,420.40, down 0.14%, slightly underperforming the Realty sector’s 0.31% fall but contrasting with the Sensex’s 0.41% gain. The rise in open interest amid falling prices typically indicates fresh short positions or hedging, reinforcing the bearish technical setup. Delivery volumes surged 168.93% above the five-day average, suggesting active repositioning by investors.
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26 February 2026: Slight Recovery Amid Mixed Market Signals
Prestige Estates managed a modest rebound, closing at Rs.1,427.10, up 0.47% on relatively low volume of 6,059 shares. The Sensex also advanced 0.19% to 36,748.49, reflecting a cautious market mood. Despite this uptick, the stock remained below all key moving averages, indicating that the bears retained control. The limited recovery was unable to reverse the broader downtrend established earlier in the week.
27 February 2026: Week Ends on a Weak Note Amid Market Sell-Off
The week concluded with Prestige Estates falling 2.49% to Rs.1,391.60, on volume of 7,727 shares. This decline outpaced the Sensex’s 1.16% drop to 36,322.56, as broader market weakness weighed on the stock. The sustained selling pressure and failure to hold above key technical levels underscored the challenges facing the company amid sectoral headwinds and cautious investor sentiment.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.1,488.50 | +0.15% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.1,422.40 | -4.44% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.1,420.40 | -0.14% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.1,427.10 | +0.47% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.1,391.60 | -2.49% | 36,322.56 | -1.16% |
Key Takeaways
Price Under Pressure: Prestige Estates declined 6.37% over the week, significantly underperforming the Sensex’s 0.96% fall, reflecting pronounced selling pressure and negative sentiment.
Technical Weakness: The stock traded below all major moving averages throughout the week, signalling sustained bearish momentum and limited near-term support.
Derivatives Activity: A sharp 10.82% rise in open interest amid falling prices on 25 February indicated fresh short positions or hedging, reinforcing the bearish outlook.
Volume and Delivery Trends: Elevated delivery volumes on 24 February suggested active repositioning by investors, possibly liquidating holdings amid uncertainty.
Sectoral Context: The Realty sector’s weakness and macroeconomic concerns contributed to the stock’s underperformance, while the Sensex showed mixed signals with modest gains early in the week followed by declines.
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Conclusion
Prestige Estates Projects Ltd’s performance this week was marked by significant weakness amid a challenging market environment. The stock’s 6.37% decline, driven by intraday lows and bearish derivatives activity, highlights the prevailing negative sentiment and technical fragility. Despite a brief recovery midweek, the inability to sustain gains and the rise in open interest suggest that downside risks remain elevated.
Investors should note the stock’s continued trading below key moving averages and the strong sell rating reflected in its Mojo Score of 27.0. The broader Realty sector’s pressure and mixed market signals further complicate the outlook. Monitoring derivatives trends and volume patterns will be crucial to gauge any potential shifts in momentum going forward.
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