Angel One shares have been making headlines on October 15, 2024, as the stock experienced a significant rally. The latest updates indicate that Angel One’s share price is currently trading at Rs 2922.8, reflecting a 7.39% increase from the previous closing price of Rs 2721.75. This rise translates to a net change of Rs 201.05, showing strong market interest and investor confidence in the stock.
Main Points
Current Price Performance
As of today, Angel One shares reached an intraday high of Rs 2830.0 and a low of Rs 2676.5 during the last trading session on October 14, 2024. The stock has shown impressive volatility with a 52-week high of Rs 3900.35 and a 52-week low of Rs 2027.25, indicating significant fluctuations over the past year.
Important Levels
Investors should pay close attention to key support and resistance levels for Angel One shares:
| Level Type | Price (Rs) |
|---|---|
| Daily Pivot Level | 2742.75 |
| Resistance R1 | 2809.00 |
| Resistance R2 | 2896.25 |
| Resistance R3 | 2962.50 |
| Support S1 | 2655.50 |
| Support S2 | 2589.25 |
| Support S3 | 2502.00 |
These levels provide crucial insights into potential market movements and can guide trading strategies.
Expected Price Target
Market analysts have set optimistic price targets for Angel One shares following the recent performance surge. The stock has cut its year-to-date losses to 17%, which is a positive sign for investors looking for recovery opportunities. Analysts suggest that if the current momentum continues, Angel One could see further upward movement, potentially reaching or exceeding its previous highs.
Recent News Highlights
The recent rally in Angel One shares is attributed to better-than-expected operational efficiency and profit figures for the September quarter. The company reported a 39.14% year-on-year increase in profit, amounting to Rs 423 crore, surpassing estimates by about 5%. This growth was driven by significant increases in both the cash and F&O segments, with gross broking business up by 29% year-on-year.
Moreover, net interest income rose by 83% year-on-year, aligning with market expectations. The average client funding book also saw a substantial increase, climbing to Rs 3,890 crore from Rs 1,410 crore in the same quarter last year.
Moving Averages
The moving averages for Angel One reveal important trends that traders should consider:
- 5-Day SMA: Rs 2601.97
- 5-Day EMA: Rs 2662.61
- 10-Day SMA: Rs 2610.31
- 10-Day EMA: Rs 2631.42
- 20-Day SMA: Rs 2582.91
- 20-Day EMA: Rs 2593.76
- 50-Day SMA: Rs 2470.34
- 100-Day SMA: Rs 2445.84
- 200-Day SMA: Rs 2733.43
These averages indicate overall bullish momentum in the short term, particularly as the stock trades above its recent moving averages.
Analyst Recommendations
Brokerage firm Motilal Oswal Financial Services Limited (MOFSL) has maintained a “Buy” rating on Angel One shares, highlighting the company’s ability to protect profitability through strategic pricing actions amid regulatory changes affecting the industry. They suggest that while new regulations may impact volumes temporarily, Angel One’s long-term margins are expected to stabilize between 45% to 50%.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
