Stock Information Portal

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

Shoppers Stop Limited

Symbol: NSE:SHOPERSTOP

ISIN: INE498B01024

775.30

As on 2024-07-24

616.00 (52W Low) 920.00 (52W High)

SHOPERSTOP's Today's Performance

Shoppers Stop Limited started the day by opening at 748.10 today 2024-07-24. Its shares reached a high of 806.05 and dipped to a low of 742.55 in intraday. When the markets closed, SHOPERSTOP’s stock price settled at ₹775.30 per share. Also check out its key support and resistance levels.

SHOPERSTOP Buy/Sell Targets

Tomorrow, buy SHOPERSTOP when its price reaches ₹ 775.30 with a stop-loss order at ₹ 756.83. You can set the target price as ₹ 793.77 to capture potential gains. This buy 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 levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for SHOPERSTOP

Downside Targets Value in ₹
Tomorrow Down Target 1 807
Tomorrow Down Target 2 838
Tomorrow Down Target 3 870

Important Levels for SHOPERSTOP

Holding Levels Value in ₹
Tomorrow Up Target 1 743
Tomorrow Up Target 2 711
Tomorrow Up Target 3 680
Based on where the stock opens tomorrow, if SHOPERSTOP opens on a positive note, our first target will be ₹807. If Target 1 is achieved, we will aim for Target 2 which is ₹838.

But if SHOPERSTOP falls below the average value of ₹774.63, you can enter a sell side position with target number 1 - ₹743 and second target - ₹711 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 upside (Short term bearish outlook) and we can get target of ₹747 in morning tomorrow
Target 1 tomorrow799
Target 2 tomorrow814
Target 3 tomorrow838
 

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 ₹806.72. If Target 1 is achieved, we will aim for Target 2 which is ₹838.13.

But if SHOPERSTOP falls below the average value of ₹774.63, you can enter a sell side position with target number 1 - ₹743.22 and second target - ₹711.13

SHOPERSTOP's Weekly Targets
1st Up Target 808.57
2nd Up Target 841.83
1st Down Target 739.52
2nd Down Target 703.73

As the week for SHOPERSTOP ended on bearish sentiments, we can expect further continuation of this sentiment. SHOPERSTOP's initial target will be 808.57 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 739.52 in the upcoming week.

Weekly OHLC Values
Open 776.60
High 806.05
Low 737.00
Close 775.30

Week for SHOPERSTOP started with an open price of 776.60, and the close was at 775.30. SHOPERSTOP reached the highest of 806.05 and dipped lowest up to 737.00 last week. This indicates a bearish sentiment for the week.

SHOPERSTOP full month swing targets
Monthly Up Target 1 877.62
Monthly Up Target 2 910.88
Monthly Down Target 1 670.47
Monthly Down Target 2 565.63

Targets of ₹877.62 can be expected to be reached in the coming month. Once SHOPERSTOP achieved this target, we can aim for the next upside target of ₹910.88.

SHOPERSTOP if fails to hold upside, down targets of ₹670.47 and ₹565.63 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.

Related Stocks in the Same Sector as SHOPERSTOP

Symbol Name Industry
MARUTI Maruti Suzuki India Limited Auto Manufacturers
TATAMTRDVR Tata Motors Limited Auto Manufacturers
TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

SHOPERSTOP is expected to reach the target of 806.72 in tomorrow's trading session.

After achieving the initial target in SHOPERSTOP, we will aim for higher targets of 838.13 tomorrow.

However, if SHOPERSTOP starts to trade below ₹774.63, then we will shift our focus to the sell side and aim for down targets of 743.22 and 711.13.