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Price and trend forecast of SHOPERSTOP for Tomorrow, Weekly, Monthly

Shoppers Stop Limited

Symbol: NSE:SHOPERSTOP

ISIN: INE498B01024

729.65

As on 2024-04-12

573.80 (52W Low) 888.50 (52W High)

SHOPERSTOP's Today's Performance

Shoppers Stop Limited started the day by opening at 747.80 today 2024-04-12. Its shares reached a high of 747.80 and dipped to a low of 721.00 in intraday. When the markets closed, SHOPERSTOP’s stock price settled at ₹729.65 per share. Also check out its key support and resistance levels.

SHOPERSTOP Buy/Sell Targets

Tomorrow, sell SHOPERSTOP when its price reaches ₹ 729.65 with a stop-loss order at ₹ 740.37. You can set the target price as ₹ 718.93 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of SHOPERSTOP for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for SHOPERSTOP

Resistance Levels Value in ₹
Tomorrow Resistance 1 745
Tomorrow Resistance 2 760
Tomorrow Resistance 3 771

Important Supports for SHOPERSTOP

Support Levels Value in ₹
Tomorrow Support 1 718
Tomorrow Support 2 706
Tomorrow Support 3 691
Based on where the stock opens tomorrow, if SHOPERSTOP opens on a positive note, our first target will be ₹745. If Target 1 is achieved, we will aim for Target 2 which is ₹760.

But if SHOPERSTOP falls below the average value of ₹732.82, you can enter a sell side position with target number 1 - ₹718 and second target - ₹706 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of SHOPERSTOP

Looking at SHOPERSTOP, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, SHOPERSTOP has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for SHOPERSTOP is strong bearish.

Tomorrow's Volume based share price Forecast for SHOPERSTOP

SHOPERSTOP's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 44%.

Reversal detection for SHOPERSTOP

Predicted trend chart of SHOPERSTOP tomorrow for price forecast
SHOPERSTOP may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹746 in morning tomorrow
Target 1 tomorrow743
Target 2 tomorrow749
Target 3 tomorrow760
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with SHOPERSTOP's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if SHOPERSTOP opens on a positive note, our first target will be ₹744.63. If Target 1 is achieved, we will aim for Target 2 which is ₹759.62.

But if SHOPERSTOP falls below the average value of ₹732.82, you can enter a sell side position with target number 1 - ₹717.83 and second target - ₹706.02

SHOPERSTOP's Weekly Targets
1st Up Target 762.77
2nd Up Target 795.88
1st Down Target 708.77
2nd Down Target 687.88

As the week for SHOPERSTOP ended on bearish sentiments, we can expect further continuation of this sentiment. SHOPERSTOP's initial target will be 762.77 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 708.77 in the upcoming week.

Weekly OHLC Values
Open 767.20
High 775.00
Low 721.00
Close 729.65

Week for SHOPERSTOP started with an open price of 767.20, and the close was at 729.65. SHOPERSTOP reached the highest of 775.00 and dipped lowest up to 721.00 last week. This indicates a bearish sentiment for the week.

SHOPERSTOP full month swing targets
Monthly Up Target 1 816.77
Monthly Up Target 2 849.88
Monthly Down Target 1 654.77
Monthly Down Target 2 579.88

Targets of ₹816.77 can be expected to be reached in the coming month. Once SHOPERSTOP achieved this target, we can aim for the next upside target of ₹849.88.

SHOPERSTOP if fails to hold upside, down targets of ₹654.77 and ₹579.88 can be achieved by end of this month.

For complete three weeks if SHOPERSTOP is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

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BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

SHOPERSTOP is expected to reach the target of 744.63 in tomorrow's trading session.

After achieving the initial target in SHOPERSTOP, we will aim for higher targets of 759.62 tomorrow.

However, if SHOPERSTOP starts to trade below ₹732.82, then we will shift our focus to the sell side and aim for down targets of 717.83 and 706.02.