Antelopus Selan Energy Limited shares fell nearly 3% during Thursday’s intraday trading session, following a sharp rally in the first half of the week. The stock has surged nearly 20% in the last three trading sessions and appears to see some correction.
Apart from Thursday's correction, the overall bullish trend in the stock came days after the oil and gas player secured two new onshore contract areas and crude oil price rally. The recent development is likely to help the firm in expanding its asset portfolio and strengthen its presence across key operating regions.
Antelopus Selan Energy stock was up 42% in one month and around 176% in 2026 so far. As the stock has seen a remarkable rally over the past few months, investors can avoid entry now, according to Virat Jagad Sr. 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,” stated Virat Jagad.
Weakness in the Antelopus Selan Energy stock came as the brent crude surged to its highest level since May amid intensifying conflict between the US and Iran. Brent crude oil price held above $100 per barrel on Thursday. The rally in the crude oil price came as Iran said it was ready for more intense conflict and even vowed to resist the US naval blockade.