The outlook for the stock of Angel One (₹233.20) has turned negative. Immediate resistance levels are at ₹254 and ₹280. Only a close above ₹290 will change the outlook to positive.

On the other hand, nearest support is ₹212 followed by ₹195. A close below the latter will trigger a fresh fall, potentially taking the stock to ₹165. We expect the stock to continue in the bearish channel.

F&O pointers: The counter has witnessed accumulation of open interests along with the downtrend. This indicates addition of short positions. The March Angel One futures closed at ₹233.40 against the spot price of ₹233.20. Option trading indicates that the stock could move between ₹220 and ₹270.

Strategy: Consider going short on Angel One futures (March). This strategy is only for traders who can understand the risk involved and able to meet margin requirements. So, risk-averse traders should stay away from this.

We advise traders to keep an initial stop-loss at ₹244, which can be shifted to ₹231 if Angel opens on a negative note. Traders can aim for a target of ₹220 and even ₹210 by adopting stop-losses to protect profit and capital. Traders should also bear it in mind that Angel One is a high beta stock, which means it can swing aggressively. This strategy is not applicable if Angel One opens either sharply higher at ₹240 or below ₹225.

Follow-up: NTPC call hit the target as expected.

Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading.

Published on February 28, 2026