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Thulasi ReddysThulasi Reddys 

How to set default stage value for opportunity? I need Prospecting as default value?

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Ishwar ShindeIshwar Shinde
It is not possible using configuration. You can promote idea related to this- https://success.salesforce.com/ideaView?id=08730000000BrKdAAK
one workaround is to overwrite the New button with custom button and populate the stage field value using URL hack. More details can be found here - http://www.salesforceben.com/salesforce-url-hacking-tutorial/