On the longer term weekly charts, the price is showing a break out from its major resistance zone at Rs 97-100. This zone is the 52-week high and it shows that the stock is reviving from a major accumulation phase. Appearance of a series of green candles in the last several weeks show buyers are in control of the price action. On the daily time frame, price is emerging out of several days of sideways action. This is the bump before the push. The entire selling pressure seen in the stock is getting absorbed. Spencer’s Retail could be a major winner in the weeks to come. The analyst recommends buying with a stop loss placed below Rs 87. He has a target of Rs 140-160 on the stock for the next 6-8 weeks. this is just an idea provided.