1 week ago
Selan Energy Shares Slip After Sharp 2026 Rally
Antelopus Selan Energy’s share price rose very quickly in recent weeks.
After that big rise, the price fell by almost 3% during Thursday’s trading.
The company had recently won two new onshore contract areas.
Higher oil prices also helped create optimism around the oil and gas company.
However, analyst Virat Jagad said the stock may have risen too far too quickly.
He suggested waiting for the price to fall closer to ₹1,050–₹1,080 before considering an entry.
The article says the stock’s technical indicator, RSI, is above 70, which can signal that a short-term pullback is possible.
Some return figures and the reported 52-week low are inconsistent within the article.
Antelopus Selan Energy shares fell nearly 3% during Thursday’s intraday trading after rising nearly 20% over the previous three sessions.
The stock was down 1.48% at ₹1,154.40 on BSE at 10:50 a.m., after reaching an intraday low of ₹1,117.55.
The company recently secured two new onshore contract areas, while higher crude oil prices supported the broader bullish trend.
Analyst Virat Jagad advised investors to avoid fresh entry because the stock appears overextended and technically overbought.
Reported performance figures vary, with the article citing roughly 176% to 180.52% gains in 2026 and a 52-week-low figure containing an apparent inconsistency.
- Who
- Antelopus Selan Energy Limited and analyst Virat Jagad of Bonanza.
- What
- The company’s shares declined nearly 3% after a sharp rally, prompting caution from a technical analyst.
- Where
- On the BSE, with the company’s operations involving onshore contract areas.
- When
- Thursday, during 2026; the article also refers to gains over the previous month, six months and year to date.
- Why
- The decline followed a rapid share-price rally and came as technical indicators suggested the stock was overbought; crude oil prices were also affected by the intensifying United States-Iran conflict.
Bullish Factors
Cautionary View
Business and oil-price outlook
Bullish Factors
The company secured two new onshore contract areas, which the article says could expand its asset portfolio and strengthen its presence in key operating regions. Higher Brent crude prices also supported the bullish trend.
Cautionary View
The stock’s Thursday decline showed selling pressure after a sharp rally, and the article does not establish that the new contracts will immediately improve financial results.
Investment timing
Bullish Factors
The stock had risen substantially, including roughly 42% in one month and more than 170% in 2026 according to the article’s various figures.
Cautionary View
Virat Jagad said investors should avoid entering at current levels because the stock was overextended, with an RSI above 70 suggesting a possible short-term pullback.
Key facts
- Thursday price
- ₹1,154.40 per share, down 1.48% at 10:50 a.m. on BSE
- Intraday range
- ₹1,117.55 low to ₹1,169.25 high
- Recent rally
- Nearly 20% over the last three trading sessions and about 42% in one month
- Reported 2026 return
- The article cites approximately 176% and 180.52% year-to-date gains in different passages
- Market capitalization
- ₹4,059.14 crore
- Analyst view
- Wait for a possible retest near ₹1,050–₹1,080; suggested stop-loss below ₹980
- Technical indicator
- RSI was described as above 70, while the price remained above key EMAs
Quotes
Virat Jagad
Senior Technical Research Analyst at Bonanza
“Avoid entry now as the stock is overextended following a massive rally. Wait for a retest near ₹1,050– ₹1,080 for a safer entry with SL below ₹980. While volume spikes confirm heavy buying and price stays well above all key EMAs, an overbought RSI above 70 warns of an impending short-term pullback, making fresh buying at current levels highly risky.”
livemint.com
Sources
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