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Price and trend forecast of SOBHA for Tomorrow, Weekly, Monthly

Sobha Limited

Symbol: NSE:SOBHA

ISIN: INE671H01015

1,709.10

As on 2024-10-11

676.30 (52W Low) 2,160.80 (52W High)

SOBHA's Today's Performance

Sobha Limited started the day by opening at 1,694.00 today 2024-10-11. Its shares reached a high of 1,727.05 and dipped to a low of 1,690.90 in intraday. When the markets closed, SOBHA’s stock price settled at ₹1,709.10 per share. Also check out its key support and resistance levels.

SOBHA Buy/Sell Targets

Tomorrow, buy SOBHA when its price reaches ₹ 1,709.10 with a stop-loss order at ₹ 1,681.06. You can set the target price as ₹ 1,737.14 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of SOBHA for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for SOBHA

Downside Targets Value in ₹
Tomorrow Down Target 1 1,727
Tomorrow Down Target 2 1,745
Tomorrow Down Target 3 1,763

Important Levels for SOBHA

Holding Levels Value in ₹
Tomorrow Up Target 1 1,691
Tomorrow Up Target 2 1,673
Tomorrow Up Target 3 1,655
Based on where the stock opens tomorrow, if SOBHA opens on a positive note, our first target will be ₹1,727. If Target 1 is achieved, we will aim for Target 2 which is ₹1,745.

But if SOBHA falls below the average value of ₹1,709.02, you can enter a sell side position with target number 1 - ₹1,691 and second target - ₹1,673 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of SOBHA

Looking at SOBHA, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, SOBHA has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for SOBHA is moderate bearish.

Tomorrow's Volume based share price Forecast for SOBHA

SOBHA's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is 56%.

Reversal detection for SOBHA

Predicted trend chart of SOBHA tomorrow for price forecast
SOBHA may trend may continue to be bullish since stock is making higher highs and we can get target of ₹1714 in morning tomorrow
Target 1 tomorrow1723
Target 2 tomorrow1731
Target 3 tomorrow1745
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with SOBHA's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if SOBHA opens on a positive note, our first target will be ₹1,727.13. If Target 1 is achieved, we will aim for Target 2 which is ₹1,745.17.

But if SOBHA falls below the average value of ₹1,709.02, you can enter a sell side position with target number 1 - ₹1,690.98 and second target - ₹1,672.87

SOBHA's Weekly Targets
1st Up Target 1,766.65
2nd Up Target 1,824.20
1st Down Target 1,663.55
2nd Down Target 1,618.00

As the week for SOBHA ended on bearish sentiments, we can expect further continuation of this sentiment. SOBHA's initial target will be 1,766.65 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,663.55 in the upcoming week.

Weekly OHLC Values
Open 1,772.00
High 1,778.65
Low 1,675.55
Close 1,709.10

Week for SOBHA started with an open price of 1,772.00, and the close was at 1,709.10. SOBHA reached the highest of 1,778.65 and dipped lowest up to 1,675.55 last week. This indicates a bearish sentiment for the week.

SOBHA full month swing targets
Monthly Up Target 1 1,869.75
Monthly Up Target 2 1,927.30
Monthly Down Target 1 1,560.45
Monthly Down Target 2 1,411.80

Targets of ₹1,869.75 can be expected to be reached in the coming month. Once SOBHA achieved this target, we can aim for the next upside target of ₹1,927.30.

SOBHA if fails to hold upside, down targets of ₹1,560.45 and ₹1,411.80 can be achieved by end of this month.

For complete three weeks if SOBHA is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as SOBHA

Symbol Name Industry
DLF DLF Limited Real Estate - Development
LODHA Macrotech Developers Limited Real Estate - Development
GODREJPROP Godrej Properties Limited Real Estate - Development
OBEROIRLTY Oberoi Realty Limited Real Estate - Development
PHOENIXLTD The Phoenix Mills Limited Real Estate - Diversified

Summary

SOBHA is expected to reach the target of 1,727.13 in tomorrow's trading session.

After achieving the initial target in SOBHA, we will aim for higher targets of 1,745.17 tomorrow.

However, if SOBHA starts to trade below ₹1,709.02, then we will shift our focus to the sell side and aim for down targets of 1,690.98 and 1,672.87.