📊 DETAILS
Sector: Finance - Stock Broking
Mkt Cap: 26,641 cr
Angel One Ltd is a diversified financial services company and is primarily engaged in the business of stock, commodity and currency broking, institutional broking, providing margin trading facility, depository services and distribution of mutual funds, lending as a NBFC and corporate agents of...
Date : 30-03-2024
Buy Angel One above 3032
Target of 3236-3440-3651-3859-4271-5101-6136
SL 2774
Strategy : Retracement Completed, Gap Filling
Duration few Days to Weeks
Please consult your financial advisor before investing
All research for educational purposes only.
Angel One had given a good rally after its IPO and after reaching a certain level, profit booking can be seen in it but if you look at it in a weekly timeframe and draw Fibonacci then you can see that it is taking support at 0.61 and also form a hammer candlestick pattern.
Hello & welcome to this analysis
The stock since its listing has been a rank outperformer and is currently trading at its Fibonacci trend extension of 1.27 of its 1st leg of uptrend.
It has short term support at 3400, below that at 2900-2550
Medium term resistance comes in at 5100
Appears to be a good stock to accumulate on dips with a decent risk reward ratio...
As per harmonic we can calculate there is high chances of breaking all time high in this stock, we can see double bottom in this particular stock. In upcoming das we can see 2600 in this particular stock, lets accumulate this stock
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
Angel One Cmp 2235 dated 23-10-2023
1. Dark Could Cover @ top of the chart
2. RSI Divergence
Sell below 2210 target 2180-2150-2130-2105
SL 2250
It is just a view, please trade at your own risk.
- Company has reduced debt.
- Company has delivered good profit growth of 52.2%
CAGR over last 5 years
- Company has a good return on equity (ROE) track
record: 3 Years ROE 44.1%
- Company has been maintaining a healthy dividend
payout of 36.2%
- Debtor days have improved from 66.7 to 45.6 days.
We highlighted signs of strength in the stock around June 2023.
Prices have now cleared its previous all time high of Rs.2022.
Volumes in this rally have been higher than average, confirming strength.
RSI has also cleared 70-75 Overbought zone, suggest bullish trend.
Next major target for the stock could be 3600+
Bullish outlook remains valid as long as...
Angel one charts showing price breakout forming new all time highs. presently the price seems to retest the breakout levels and after which it may trigger a rally towards 3000. The results announced recently could be trigger for the rally with optimistic future growth of demat accounts in India for upcoming years.
Price levels to watch...
Angel one has given a great breakout after it has broken its imp resistance level of 1980 and currently trading at 2080 in last session we have seen profit booking and pull back it seems like it can again test it levels of1980 acting as support and from there if it bounce back then it will be a great trade and we can go long in Angle one from that levels.
![ANGELONE: ANGEL ONE LTD[1M | 1W] Looks strong](https://s3.tradingview.com/e/eeWOTjrP_mid.png "ANGEL ONE LTD[1M | 1W] Looks strong")
