Angel One Ltd - Breaking Barriers, Eyeing the Next Move

3 oct.

We’ve got a breakout on our hands with Angel One Ltd! The yellow line in the chart is a counter-trendline that’s been rejecting price action multiple times. But now, we’re seeing some serious strength as the stock has blasted through it with authority. This signals a potential shift in momentum.

Supporting this move is the green trendline, showing that the stock is not just breaking out—it’s bouncing off a solid foundation of support. The market clearly respects this level, adding confidence to the bullish outlook.

But here’s where it gets interesting—I've added two white dotted lines, my "hidden hurdles." These are potential areas of resistance that might slow the stock down for a bit. Don't be surprised if we see some consolidation around this zone.

Now, check out the red box, which hints at a possible short-term pullback or sideways movement—just a breather before the next leg up! After this, I'm eyeing a strong bullish candle (marked by the green box) to close above resistance, setting the stage for an exciting trade opportunity.

The final piece of the puzzle? I’ll be planning my risk-reward strategy only after that confirmation candle is locked in. For now, I’m keeping this one on my radar—this stock could be setting up for something big!