Retail stocks will be in limelight in today’s trading session after Indian Government allowed FDI in Multi brand retail. Stock will be opening with huge gaps but still we can find trading opportunities. Lets jump into technical of Pantaloon Retail, Provogue India,Shopper Stop
Pantaloon Retail will be in limelight tomorrow trading session.Stock will open with a huge gap up probably around 180-185 levels. Last time the FDI in multi brand retail came Pantaloon made a rally from 148-238 in just 8 trading session. So same feat can be repeated this time also.
Stock will face trend line resistance at 190-193 odd levels.
Buy above 188 Tgt 193, 203,214 and 238 Swing and Positional Call
Shopper Stop will another stock which will be in focus tomorrow. Stock has a circuit limit of 420 which can be touched tomorrow. FDI in multi brand retail will be a long term positive for stocks.
Buy above 386 Tgt 393,409 and 420
Buy above 38 Tgt 41,44 and 48