CDSL.NSE Central Depository Services (India) Ltd.

If Nifty manages to breach 19,200-19,225, it could trigger short covering and potentially drive the index towards 19,330 or even 19,440.

A long position in the index near the support zone is advisable, with potential for an upward move towards 20,000 and 20,222 levels.

The next targets for the Nifty50 to watch out for would be 20,500-21,000 in the short term, considering the strong momentum sustained through the last seven sessions with participation from bank and IT stocks

Sobha has seen a decisive breakout of falling resistance trendline adjoining highs of July 26 and September 5, with strong bullish candlestick pattern on the daily charts. The stock rallied nearly 11 percent to Rs 682 and formed significantly higher volumes.

The undertone seems upbeat with ‘buy on dip’ being the most suitable approach.