📝 Analysis:
Dixon Technologies (NSE: DIXON) is forming a classic Head and Shoulders pattern, signaling a potential trend reversal from bullish to bearish.
The pattern structure is clear:
Left Shoulder: Formed after a rally and minor correction.
Head: Made a higher high but failed to sustain.
Right Shoulder: Lower high formation indicating weakness.
📉 Bearish Breakdown Trigger:
A decisive break below the neckline will confirm the bearish setup.
Expect increased selling pressure post-breakdown.
🎯 Target Projections:
Initial Targets:
₹16,196 (Fib 0.25)
₹15,790 (Fib 0.5 Mid-point)
₹15,384 (Fib 0.75)
Major Support:
₹13,579 (Horizontal Key Support)
Extended Bearish Targets:
₹12,095 (Triple Support)
₹10,617 (Quadruple Support)
🔎 Key Observations:
Price consolidation within a range indicates distribution.
Momentum loss is visible as the stock fails to create higher highs.
Breakdown below ₹15,790 will accelerate downside momentum.
⚠️ Risk Management:
Traders should wait for a confirmed neckline breakdown before shorting.
Keep strict stop-loss above the right shoulder peak to manage risk.
🟡 Disclaimer:
This analysis is for educational and informational purposes only. It is not investment advice. Please consult your financial advisor before making any trading decisions. Trading involves risk and may result in financial loss.
Dixon Technologies (NSE: DIXON) is forming a classic Head and Shoulders pattern, signaling a potential trend reversal from bullish to bearish.
The pattern structure is clear:
Left Shoulder: Formed after a rally and minor correction.
Head: Made a higher high but failed to sustain.
Right Shoulder: Lower high formation indicating weakness.
📉 Bearish Breakdown Trigger:
A decisive break below the neckline will confirm the bearish setup.
Expect increased selling pressure post-breakdown.
🎯 Target Projections:
Initial Targets:
₹16,196 (Fib 0.25)
₹15,790 (Fib 0.5 Mid-point)
₹15,384 (Fib 0.75)
Major Support:
₹13,579 (Horizontal Key Support)
Extended Bearish Targets:
₹12,095 (Triple Support)
₹10,617 (Quadruple Support)
🔎 Key Observations:
Price consolidation within a range indicates distribution.
Momentum loss is visible as the stock fails to create higher highs.
Breakdown below ₹15,790 will accelerate downside momentum.
⚠️ Risk Management:
Traders should wait for a confirmed neckline breakdown before shorting.
Keep strict stop-loss above the right shoulder peak to manage risk.
🟡 Disclaimer:
This analysis is for educational and informational purposes only. It is not investment advice. Please consult your financial advisor before making any trading decisions. Trading involves risk and may result in financial loss.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.