On 23rd of September Shoppers stop made an engulfing Bullish candle just on the support.
Also after that this stock is wandering around the same levels with good volatility.
Volume have dried up, which we can consider that distribution phase is over and accumulation is ongoing.
Overall a good short term trade can be taken out here.
Buy near 171
The daily chart of Shoppers Stop looking interesting.
After a break down below Rs 350, the stock has been on a continuous downfall.
The daily chart is exhibiting positive divergence in RSI which suggests some rally is on card.
Buy for a target of Rs 165 to 170 in three months.
The stock belongs to small-cap and suitable for high-risk takers.