Shoppers Stop Ltd Faces Intensified Bearish Momentum Amid Technical Downgrade

Technical Trend Shift and Price Movement

On 17 Feb 2026, Shoppers Stop Ltd’s share price closed at ₹372.90, down sharply by 6.80% from the previous close of ₹400.10. The intraday range saw a high of ₹405.00 and a low of ₹367.20, indicating heightened volatility. This decline marks a continuation of the stock’s downward trajectory, with the technical trend shifting from mildly bearish to outright bearish.

The stock’s 52-week high stands at ₹588.50, while the 52-week low is ₹321.45, placing the current price closer to the lower end of its annual range. This proximity to the low suggests limited upside in the near term without a significant reversal in technical indicators.

MACD and Momentum Indicators

The Moving Average Convergence Divergence (MACD) presents a mixed picture. On a weekly basis, the MACD remains mildly bullish, hinting at some short-term positive momentum. However, the monthly MACD is bearish, signalling that the longer-term trend is weakening. This divergence between weekly and monthly MACD readings suggests that while there may be brief rallies, the overarching momentum favours sellers.

The KST (Know Sure Thing) indicator corroborates this bearish outlook, showing bearish signals on both weekly and monthly charts. This reinforces the view that momentum is deteriorating across multiple timeframes.

RSI and Overbought/Oversold Conditions

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral territory. This lack of oversold or overbought conditions implies that the stock is not yet at an extreme, leaving room for further downside before a potential technical rebound might occur.

Moving Averages and Bollinger Bands

Daily moving averages are firmly bearish, with the stock trading below key averages, indicating sustained selling pressure. The Bollinger Bands add to this negative sentiment: weekly bands are bearish, and monthly bands mildly bearish, suggesting that price volatility is skewed towards the downside. The stock’s failure to break above the upper Bollinger Band on multiple occasions highlights resistance and a lack of buying conviction.

Volume and Dow Theory Signals

On-Balance Volume (OBV) indicators show no discernible trend on weekly or monthly charts, indicating that volume is not confirming price moves. This absence of volume support weakens the case for a sustained rally.

Dow Theory readings are mildly bullish on a weekly basis but mildly bearish monthly, echoing the mixed signals seen in MACD. The short-term optimism is overshadowed by longer-term caution, reflecting uncertainty among investors.

Comparative Performance Against Sensex

Shoppers Stop Ltd’s recent returns have lagged behind the benchmark Sensex across multiple time horizons. Over the past week, the stock declined by 7.05%, compared to a modest 0.94% drop in the Sensex. The one-month return shows a 3.72% loss for the stock versus a 0.35% decline in the index. Year-to-date, Shoppers Stop is down 3.56%, underperforming the Sensex’s 2.28% fall.

Longer-term performance is more concerning. Over the past year, the stock has plummeted nearly 30%, while the Sensex gained 9.66%. Over three years, Shoppers Stop has lost 41.98%, in stark contrast to the Sensex’s 35.81% gain. Even over a decade, the stock’s 3.55% return pales against the Sensex’s robust 259.08% growth.

These figures highlight the stock’s persistent underperformance relative to the broader market, underscoring the challenges facing the company and its sector.

Mojo Score and Analyst Ratings

MarketsMOJO has downgraded Shoppers Stop Ltd’s Mojo Grade from Sell to Strong Sell as of 16 Feb 2026, reflecting a deteriorating outlook. The current Mojo Score stands at 26.0, signalling weak fundamentals and technicals. The Market Cap Grade is a low 3, indicating limited market capitalisation strength relative to peers.

This downgrade aligns with the bearish technical signals and recent price weakness, suggesting that investors should exercise caution.

Sector and Industry Context

Operating within the diversified retail sector, Shoppers Stop faces headwinds from changing consumer behaviour, increased competition from e-commerce, and macroeconomic pressures. The sector itself has shown mixed technical signals, with some peers exhibiting stronger momentum. This context adds to the challenges for Shoppers Stop to regain positive price momentum in the near term.

Investor Takeaway and Outlook

Shoppers Stop Ltd’s technical indicators collectively point to a bearish momentum shift, with multiple signals confirming weakening price action. The downgrade to Strong Sell by MarketsMOJO, combined with the stock’s underperformance relative to the Sensex, suggests that investors should approach with caution.

While short-term weekly MACD and Dow Theory readings offer mild bullish hints, these are overshadowed by monthly bearish signals and negative moving average trends. The absence of volume confirmation further undermines confidence in any immediate recovery.

For investors, this environment calls for a careful reassessment of portfolio exposure to Shoppers Stop, especially given the availability of potentially superior opportunities within the diversified retail sector and beyond.

Technical Summary

Current price: ₹372.90 | Previous close: ₹400.10 | 52-week high: ₹588.50 | 52-week low: ₹321.45

Technical Trend: Bearish (shifted from mildly bearish)

MACD: Weekly - Mildly Bullish, Monthly - Bearish

RSI: Weekly & Monthly - No Signal

Bollinger Bands: Weekly - Bearish, Monthly - Mildly Bearish

Moving Averages: Daily - Bearish

KST: Weekly & Monthly - Bearish

Dow Theory: Weekly - Mildly Bullish, Monthly - Mildly Bearish

OBV: Weekly & Monthly - No Trend

Mojo Score: 26.0 | Mojo Grade: Strong Sell (downgraded from Sell on 16 Feb 2026)

Performance vs Sensex

1 Week: -7.05% vs -0.94%

1 Month: -3.72% vs -0.35%

YTD: -3.56% vs -2.28%

1 Year: -29.97% vs +9.66%

3 Years: -41.98% vs +35.81%

5 Years: +74.99% vs +59.83%

10 Years: +3.55% vs +259.08%

In conclusion, Shoppers Stop Ltd’s technical deterioration and relative underperformance highlight the need for investors to remain vigilant. Monitoring key technical levels and broader sector trends will be essential in assessing any future recovery potential.

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