Sobha’s actions have shown a strong upward trend in the last month, quoting above the key mobile averages and breaking a resistance level in ₹ 1,280.
Sobha’s stock has been constantly recovered during the last month. Consistently, the price is now above the mobile averages of 21 and 50 days and the scrip has left a resistance to ₹ 1,280. Since the beginning of 2025, the action has bounced in the support band of ₹ 1,100-1,120 three times, which denotes that this is a solid base. While he could not create a positive impact duration in the first two attempts, the rupture of ₹ 1,280 last week resulted in the action forms a higher maximum.
Video Credit: Businessline
The predominant price action shows that there is the potential of a greater rally. Buy ₹ 1,315 and ₹ 1,280. Place stop loss in ₹ 1,220. When the price reaches ₹ 1,400, check the stop-to ₹ 1,280. Altere the stop-to ₹ 1,350 when the action touches ₹ 1,450. Book Benefits to ₹ 1,500.
(Note: Recommendations are based on technical analysis. There is a risk of loss in trade).
Posted on May 5, 2025
