Angel One: Corrective pattern aligning for bounce

Angel One topped at an all-time high of 3895 before entering a corrective phase. The decline into 2025 marked Wave W, followed by a rally into 3503 as Wave X, and then a fall to 1941 completing Wave Y. From there, the stock advanced to 3284, counted as Wave A/1 with a leading diagonal.

The decline since 3284 has unfolded as a double zigzag (W–X–Y) within a parallel bearish channel. Wave Y is testing key supports at 2454 (0.618 Fib) and 2228 (0.786 Fib). RSI is near the oversold band around 30, setting up the possibility of bullish divergence if price makes a marginal new low. The bullish view remains valid above 1941; a close below this level invalidates the count.

Trade Plan:

• Bias: Expecting Wave B/2 to complete around 2228
  
• Trigger: Watch for bullish divergence or reversal candles near support
  
• Target: A break above 3284 would confirm Wave C/3
  
• Risk: Stop loss at 1941
  

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.