ANGELONE – Stage 2 Watchlist

Angel One continues to build a mature base after an extended period of consolidation. Price is trading above its key moving averages and is now approaching the upper boundary of the base. Watch for a Stage 2 Breakout.

What stands out
Trading above the 50 DMA and 200 DMA.
Multi-month consolidation/base formation.

Volumes have gradually dried up during consolidation, indicating reduced selling pressure.
Smaller candles near resistance suggest tightening price action.
A decisive breakout above the range, supported by strong volume, could signal the next leg higher.

Sector Tailwind

The India Internet Index, of which Angel One is a constituent, is also improving structurally. In addition, the capital markets theme continues to benefit from increasing retail participation and sustained market activity, providing a supportive backdrop for the sector.

Risks to Monitor

The broader market remains volatile and is yet to confirm a strong directional trend.
Q1 earnings are scheduled for 15 July, which could lead to elevated volatility and gap movements.
Waiting for price confirmation and managing risk is preferable to anticipating a breakout.
Trading Plan
Watch for a high-volume breakout above the consolidation range.
Avoid chasing weak breakouts on low volume.
Position sizing and predefined stop-loss levels remain essential.

Disclaimer: This chart is shared solely for educational purposes and represents my personal market observations. It is not investment advice or a recommendation to buy or sell any security. I am not a SEBI-registered research analyst or investment adviser. Please conduct your own research and consult a qualified financial adviser before making any investment decisions.