Angel One Limited (ANGELONE) Stock - Complete Technical Analysis - Nov 29, 2024

Angel One Stock Technical Analysis Support, Resistance & Trends ANGELONE NSE Stocks Analysis

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. Technical Analysis of Angel One Limited (ANGELONE) Stock:

Angel One Limited (ANGELONE) is showing a mix of signals in its technical chart. At the current price of 2,897, the stock has seen a significant drop of 25.64% from its 52-week high, suggesting a potential correction phase, yet it remains well above its 52-week low by 43.07%. This positions the stock in an interesting range for traders, as a bounce from current levels could offer potential upside.

In terms of support, the stock is holding near key levels of 2,780 and 2,730. Should these levels hold, the stock may attempt a rebound towards higher resistance zones, initially around 2,940 and 2,990. However, if the price falls below 2,730, the downward risk could intensify.

Looking at the technical indicators, the Relative Strength Index (RSI) is neutral, suggesting that the stock is neither overbought nor oversold. The MACD line is still above the signal line, indicating potential for upward momentum. However, caution is required as the Awesome Oscillator is showing bearish divergence, and the Stochastic Oscillator is in the overbought territory, which may lead to a short-term pullback.

Recent candlestick formations like the Doji and Spinning Top indicate indecision in the market, and coupled with the high ATR (Average True Range), it signals that volatility is likely to continue. Traders should be mindful of the choppy price action and manage their risk carefully.

Key Levels:

Support: 2,780, 2,730

Resistance: 2,940, 2,990

Technical Indicators: Neutral RSI, Positive MACD, Overbought Stochastic, Bearish Awesome Oscillator

Actionable Strategy: Watch for a break above 2,940 for potential upward movement, but stay cautious if the price falls below 2,730, as further downside may occur. Use proper risk management strategies.