SOBHA Ltd. – Technical Analysis Discussion

Market View: Sobha Ltd. is trading near ₹1,212 and is attempting a short-term recovery after facing selling pressure. However, the broader technical structure remains weak, and the recent rebound does not yet confirm a sustained trend reversal. Price action around the immediate resistance zone will be crucial in determining whether the recovery can gain further momentum. 🔑 Key Technical Levels: Current Reference Price: ₹1,212 Immediate Resistance: ₹1,224 Major Resistance: ₹1,250–₹1,276 Potential Upside Levels: ₹1,276–₹1,328 Immediate Support: ₹1,172 Downside Levels: ₹1,145–₹1,119 📈 Technical Outlook: A sustained breakout above ₹1,224, supported by strong trading volume, may improve the short-term outlook. If the stock moves decisively above ₹1,250, further upside toward ₹1,276 and potentially ₹1,328 may become possible. Conversely, a breakdown below ₹1,172 could renew selling pressure and expose the stock to lower support zones around ₹1,145–₹1,119. Until a confirmed breakout occurs, traders should remain cautious and monitor price action closely. ⚠️ Risk Management: Avoid chasing sudden price movements. Volume confirmation, market conditions and appropriate risk management are essential when evaluating a potential trading setup. For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS | SEBI REGISTERED RESEARCH ANALYST