Short Sobha Developers: Vishal Kshatriya

Short Sobha Developers with a target of Rs 222, says Vishal Kshatriya, Edelweiss

Kshatriya told CNBC-TV18, "Sobha Developers has been continuously meeting lower tops and lower bottom. Besides this stock continues to trade below its short-term moving averages. Oscillators on a daily chart too continue its downtrend. This indicates that overall trend in the stock is negative." He further added, "Yesterday stock has broken down its key support on its daily chart and also it has witnessed a fresh shorts as indicated which is suggested by OI built-up around 7%. I will be short on Sobha developers with a target price of Rs 222." Click HERE to follow their score card