SONACOMS Faces Fifth Consecutive Monthly Decline, Eyes Key Support Break

stock prices closed in the negative for the fifth consecutive month, mirroring the pullback seen in the Nifty-50 index. On the daily chart, the stock is forming lower highs and consistent lows, indicating a possible consolidation or distribution phase. This type of price action typically signals that traders are watching for a breakout. A move below the support level could trigger further downside, while a breakout above the resistance might suggest a potential reversal or uptrend. Traders are closely monitoring these levels to confirm the stock's next direction—will the support hold, or will the prices break down further? Disclaimer: This post is for educational purposes only and does not constitute investment advice.