Shoppers Stop could have Rs 40-50 downside: Ashwani Gujral
Shoppers Stop has been ranging between Rs 320 and Rs 380. In case it is able to close below Rs 320, you probably may find levels of Rs 260, but generally it is a low volume stock and does not tend to do much but below Rs 320.
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| In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, shares his trading ideas.
How do Shoppers Stop, Educomp and Bajaj Hindustan look on the charts?
Once the budget is over, Educomp generally tends to decline but now it is broadly in the range of about Rs 400 to Rs 520.
On Bajaj Hindustan, upside seems to be limited. Most of these stocks were showing good momentum but now are broadly range bound between about Rs 60 and Rs 80 on Bajaj Hindustan.
There was a news expected on retail which never came through. So, Shoppers Stop has been ranging between Rs 320 and Rs 380. In case it is able to close below Rs 320, you probably may find levels of Rs 260, but generally it is a low volume stock and does not tend to do much but below Rs 320. There could be some Rs 40-50 downside.
How do Shoppers Stop, Educomp and Bajaj Hindustan look on the charts?
Once the budget is over, Educomp generally tends to decline but now it is broadly in the range of about Rs 400 to Rs 520.
On Bajaj Hindustan, upside seems to be limited. Most of these stocks were showing good momentum but now are broadly range bound between about Rs 60 and Rs 80 on Bajaj Hindustan.
There was a news expected on retail which never came through. So, Shoppers Stop has been ranging between Rs 320 and Rs 380. In case it is able to close below Rs 320, you probably may find levels of Rs 260, but generally it is a low volume stock and does not tend to do much but below Rs 320. There could be some Rs 40-50 downside.
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