Angel One Limited (ANGELONE) Stock - Complete Technical Analysis - Nov 08, 2024

Angel One (ANGELONE) Technical Analysis Key Support & Resistance Levels Explained

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Angel Ones technical indicators present a mixed picture, with some indications of support near its current price and resistance overhead. The ADX value of 17.72 shows low trend strength, suggesting that a strong directional move may not be imminent. The RSI at 49.2, close to neutral, aligns with the ADX reading, pointing to a consolidative phase rather than a strong bullish or bearish trend. Additionally, the Stochastic %K at 31.48 and Williams %R at -75.89 indicate that, while the stock is not fully in oversold territory, caution is warranted.

Recent EMA levels signal resistance above, with the 10-day EMA of 2921 and the 20-day EMA at 2896 suggesting the stock may struggle to break through these levels without increased buying pressure. Moving averages such as the 50-day and 200-day SMA remain below current levels, which supports the longer-term uptrend, but the short-term trend suggests limited momentum for a breakout. Ichimokus Base Line at 2945 similarly indicates that the stock faces overhead resistance before it can resume upward movement.

Classic support and resistance levels from pivot analysis further confirm this picture, indicating key resistance at 3479 while defining near-term support at 2536. In the shorter term, recent price data reveals notable volatility, especially as price gaps over the last few days highlight the stocks sensitivity to market sentiment and broader volatility.

Given these observations, Angel One may continue trading within a narrow range in the immediate term, with levels between 2800 to 3000 providing a critical battleground for traders. A significant break above 3000, sustained by volume, could trigger bullish momentum, while a drop below 2800 may signal additional downside risk. For traders, focusing on entry near support levels or shorting near resistance may offer strategic trade setups.