Scrip : Shopper stop limited
Trend : Strong Up
Formation : Breakout from triangle
Positive’s : Life Time High
Major Supports : around 440
Trend Reversal : below 370
Recommendation : Buy
Upside Targets : 750-800
Technical Update : Shopper stop limited made an technical bullish breakout from triangle formation past week. The stock made its life time high at 572+ and closed the week at 547.25. The last candle is highly bullish candle and had closed above its trend line resistance on breakout which indicates the continuation of trend in the stock in coming weeks and months.
Short term supports at 490 with major support at 440. Its a buy in dip stock it should be accumulated in declines around 500 or below for upside targets of 750-800 in coming weeks & months with protective stop loss of 370 below which the trend will reverse.
