Angel One Ltd (NSE: ANGELONE) has witnessed a sharp upward movement, with today’s price action breaking past the key Fibonacci retracement level of ₹2,968 (61.8%) after bouncing off the support near ₹2,600. The recent appointment of Arief Mohamad as the Chief Business Officer - Direct Business could be a key factor boosting investor confidence, triggering this strong bullish momentum.
Key observations:
The stock is trading above its 20-day, 50-day, and 200-day moving averages, indicating strong bullish sentiment.
Immediate resistance is seen around ₹3,187 (next Fibonacci level), while strong support rests at ₹2,749 (38.2% retracement level).
RSI is hovering near 70, showing an overbought condition. A pullback may be expected, but if momentum continues, a breakout toward ₹3,400 is possible.
This move shows the potential for further upside, though caution is advised with the RSI entering overbought territory. Traders might want to watch closely for a potential pullback or consolidation in the near term.
Key observations:
The stock is trading above its 20-day, 50-day, and 200-day moving averages, indicating strong bullish sentiment.
Immediate resistance is seen around ₹3,187 (next Fibonacci level), while strong support rests at ₹2,749 (38.2% retracement level).
RSI is hovering near 70, showing an overbought condition. A pullback may be expected, but if momentum continues, a breakout toward ₹3,400 is possible.
This move shows the potential for further upside, though caution is advised with the RSI entering overbought territory. Traders might want to watch closely for a potential pullback or consolidation in the near term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.