Angel One Q1 Preview: Favorable Results Could Trigger Breakout Rally, Says SEBI RA Rohit Mehta

₹3,395 is seen as a key resistance level, a breakout from which could take the stock towards ₹3,812, according to the analyst.

After four straight sessions of declines, Angel One shares are finally trading higher in early trade on Wednesday, as Dalal Street keenly awaits the company’s quarterly results due later today. The stock was up 1.4% to ₹2,711.30.

From a technical perspective, SEBI-registered analyst Rohit Mehta sees a bullish trend forming in the weekly charts.

Angel One shares are trading around a crucial support zone of ₹2,679 - ₹2,715, forming a bullish rounded bottom structure on the weekly chart, Mehta noted.

The trend remains sideways to bullish, with multiple successful retests of this base. A breakout above ₹3,395 could lead the stock to approach its all-time high of ₹3,811.65, making the upcoming earnings a potential catalyst for a fresh rally.

The stock’s resilience at lower levels and its consistent higher lows indicate accumulating strength. Traders are closely watching the ₹3,395 resistance level as a potential trigger for bullish momentum, Mehta said.

On the fundamental side, Angel One is expected to post a strong quarter. According to Bloomberg estimates, the financial services company is expected to report a net profit of ₹132.6 crore and total income of ₹4,899.5 crore.

Its long-term picture remains steady, with a 5-year profit CAGR of 66.9%, a 3-year average ROE of 36.1%, and improving operational efficiency, with a drop in debtor days from 36 to 20.9.

Shareholding data indicate a stable promoter stake at 35.55%, although FIIs and DIIs slightly reduced their exposure last quarter.

If earnings surprise on the upside, Angel One could see renewed buying interest and a potential breakout above key resistance, the analyst said.

Year-to-date losses were at 8.1%

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