Angel Broking is stockbroking firm which has served its facility from the year 1996. It was listed on NSE, BSE in the year of 2020 with the issue price of 305-306 per equity shares.
In the year 2020, Angel broking Share Price listed at Rs 275, a 10.13 % discount from the issue price. But you will amaze by hearing that this stock gave tremendous returns of near about 1082 % from the listing price till now. And this huge number of returns is given within three years of timespan. So, let’s look at the price patterns of angel one share, which burst with so much force that pulled the price level in that level.
The Angel One share did not perform well after the listing during the year 2020. The Angel broking Share Price faces resistance on the area of 370-400/-. But after a long consolidation of 6 months, it was able to break the upper part of the area. After that it did not look back and marked a new high of RS 2026/- in the year of 2022. In a single shot it has given near about 400 % return in a short span of time period.
After that move, the angel one share price started its correction in the form of triangle pattern, which is visible in the weekly chart. In the weekly chart, the upper trendline of the triangle pattern hits three times where the lower one hits two times. After the breakout from that triangle pattern, the Angel broking Share Price made a sharp move to the upside and hits a new level on 15th December, 2023.
On 15th December, 2023, Angel One share price close at the level of 3261.30 with the up move of 2.12%. The formation of Higher High and Higher Low indicates the intact of strong bullish trend in the Angel Broking Share chart.
But the 15th December candle is not much impressive as it faces resistance on the upper level and closed by creating a shadow on the upper side. Besides, the volume which is very much important and which denotes the strength of buyers and as well as sellers, is significantly low from previous day. But we have to closely notice the Angel broking Share Price movement for some days for further clarification.
The 1hr chart speaks more as the stocks move through a trendline that arises from the 1830 level. Each time angel one share price touches the lower trendline, it bounces back from that area and hits upper one. But for some days it was not able to touch the upper level and this shows the lack of strength of buyers. But as much days it slides to upside and make higher high formation, the bullish movement will remain intact. If the price breaks the lower part of the trendline, then slight downfall is possible. Fresh entry is preferable after a consolidation only.