Shoppers Stop Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Shoppers Stop Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Shoppers Stop Limited stock price gained 2.87% on the last trading day (Friday, 17th May 2024), rising from ₹731.75 to ₹752.75. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.35% from a day low at ₹725.10 to a day high of ₹756.65. The price has risen in 7 of the last 10 days and is up by 2.87% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 40 thousand more shares were traded than the day before. In total, 70 thousand shares were bought and sold for approximately ₹52.79 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹758.95 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.91% during the next 3 months and, with a 90% probability hold a price between ₹663.02 and ₹729.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHOPERSTOP.NS Signals & Forecast
The Shoppers Stop Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹729.02 and ₹732.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 7.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Friday, January 05, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, January 05, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Shoppers Stop Limited stock
Shoppers Stop Limited finds support from accumulated volume at ₹743.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹31.55 between high and low, or 4.35%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: ₹711.11 (-5.53%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (SHOPERSTOP.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shoppers Stop Limited to open at ₹744.83, and during the day (based on 14 day Average True Range), to move between ₹732.55 and ₹772.95, which gives a possible trading interval of +/-₹20.20 (+/-2.68%) up or down from last closing price. If Shoppers Stop Limited takes out the full calculated possible swing range there will be an estimated 5.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹755.00 (0.30%) than the support at ₹743.85 (1.18%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Shoppers Stop Limited stock A Buy?
Shoppers Stop Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.936 Hold/Accumulate Upgraded
Predicted Opening Price for Shoppers Stop Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹744.83 ( 1.05%) | ₹752.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHOPERSTOP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 776.38 | 3.14 % | |
| R2 | 764.33 | 1.54 % | ||
| R1 | 756.89 | 0.549 % | ||
| Current price: | 752.75 | |||
| Support | S1 | 732.78 | -2.65 % | |
| S2 | 725.34 | -3.64 % | ||
| S3 | 713.28 | -5.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 770.00 | 2.29 % | |
| R2 | 767.75 | 1.99 % | ||
| R1 | 755.00 | 0.299 % | ||
| Current price | 752.75 | |||
| Support | S1 | 743.85 | -1.18% | |
| S2 | 724.25 | -3.79% | ||
| S3 | 717.05 | -4.74% |
SHOPERSTOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2019 | Jul 22, 2019 | Aug 02, 2019 | ₹0.710 | 0.196% |
| 2 | Apr 27, 2018 | Jul 19, 2018 | Aug 26, 2018 | ₹0.710 | 0.126% |
| 3 | May 05, 2017 | Jul 20, 2017 | Aug 28, 2017 | ₹0.710 | 0.200% |
| 4 | Mar 07, 2016 | Mar 17, 2016 | Aug 28, 2016 | ₹0.710 | 0.188% |
| 5 | Apr 30, 2015 | Jul 22, 2015 | Aug 03, 2015 | ₹0.710 | 0.175% |
FAQ
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