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The stock of Angel One has been in an uptrend since mid-August this year. Although the share price has decreased recently, this is just a correction within the uptrend. There is room to fall more from here. However, strong support is in the ₹2,720-₹2,680 region, which can halt the current fall. We expect the stock to reverse higher and resume the uptrend from this support zone. That leg of rally can take Angel One share price higher to ₹3,400 in a month or two.
Short-term traders can buy now at ₹2,886. Accumulate on dips at ₹2,720. Keep the stop-loss at ₹2,660. Trail the stop-loss up to ₹2,920 as soon as the stock goes up to ₹2,980. Move the stop-loss further up to ₹3,050 when the price touches ₹3,140. Exit the stock at ₹3,200.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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