Shares of Angel One Ltd. extended gains for the fifth consecutive session to a nearly four-month high on Wednesday. The stock has added more than 36% in the five-day rally.
The stock is the second-highest gainer after Godfrey Phillips India Ltd. among the Nifty Smallcap 250, having risen 30.5% in the last seven days. During the same time frame, Godfrey Phillips has increased by 31%.
Angel One is also the second-largest gainer among the Nifty 500 stocks.
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Shares of the company rose 5.86% to Rs 2,855 apiece, the highest level since April 29. It pared gains to trade 1.64% higher at Rs 2,738.85 apiece as of 10:51 a.m. This compares to a 0.1% advance in the NSE Nifty 50 Index.
The stock crossed its 200-day moving average at Rs 2,807 for a brief period today. The 50-day moving average is Rs 2,346.69, and the 100-day moving average is Rs 2,534.39.
The stock has fallen 21.4% on a year-to-date basis but rose 46.6% in the last 12 months. Total traded volume on the NSE so far in the day stood at 2.65 times its 30-day average. The relative strength index was at 74.3, indicating that the stock may be overbought.
Out of the nine analysts tracking the company, six maintain a 'buy' rating, two recommend a 'hold,' and one suggests a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 3%.
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