Breakout Confirmation on Fundamentally Strong ANGELONE! 🚀

After months of consolidation, ANGELONE is showing a potential medium-term trend reversal with multiple confluences aligning in favor of the bulls. 🔹 Technical Structure The stock has just broken out of a short-term falling trendline, confirming a possible end to the recent corrective phase. The broader structure resembles a Wave 2 completion under Elliott Wave analysis, hinting at the start of a Wave 3 impulsive move, which typically carries the strongest momentum. AVWAP (from the previous swing low) is currently acting as a strong dynamic support, providing stability to the recent price breakout. 🔹 Momentum Confirmation MACD shows a bullish divergence, where price made a lower low, but MACD formed a higher low — a classic signal of reversing downside momentum. Price has crossed above the EMA cluster, suggesting renewed buying interest and strength building up. 🔹 Fundamental Backing ROCE above 30% reflects capital-efficient growth. Consistent profit growth over the last few years highlights robust business momentum despite market volatility. Strong dividend yield and expanding client base add further conviction to the medium-term bullish outlook. 🔹 Key Levels to Watch Immediate Support: ₹2,300 (recent breakout level & AVWAP zone) Major Support: ₹1,940 (long-term base) Resistance Zone: ₹3,000–₹3,100 (descending trendline zone) 📈 Conclusion: ANGELONE is at a crucial juncture — with a confirmed breakout, bullish divergence, and strong fundamentals, it could be gearing up for a Wave 3 rally toward ₹3,000+ levels, provided the breakout sustains above ₹2,300.