Technical Analysis Angel One

The stock

is in a visible downtrend. After touching highs above the 340 level the price structure has consistently formed lower highs and lower lows. This pattern indicates that sellers are currently controlling the broader trend. There is a clear horizontal resistance line drawn on the chart around the 277.55 mark. The stock recently attempted a recovery but was rejected right around this zone confirming it as a strong supply area. Until the price can decisively break and sustain above this level with strong volume upside movement will be restricted. The stock is currently trading weak at 236.21. If the selling pressure continues the next logical support zone is around the 200 to 210 range. This is the area where the price previously formed a base and bounced back. Short-term buyers should avoid fresh entries right now because the stock is in a firm downtrend and making lower lows. Current holders must closely watch the 200-210 support zone and use strict stop-losses to protect capital from further downside risk. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.