DIXON trade ideas
Swing Trading Opportunity in Dixon TechnologiesRefer the chart for Entry,Target and SL.
NOTE: This trade is only for Equity Swing buy and not to be considered for options trading.
Please do follow Position Sizing and Risk Reward Ratio while planning any trades.
Note: This information is for education purpose only and please do your own research and consult your financial advisor prior to taking any action.
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DIXON TECHNOLOGY Elliott Wave AnalysisDIXON TECHNOLOGY
Dixon Technology Impulsive Movement: Dixon Technology has started an "impulsive movement upside," indicating that the stock's price has been rising in a strong and decisive manner.
Bottoming Out Near 2553: The stock reached a low point near 2553 on January 30, 2023. This low is referred to as the "bottoming out" point.
Intermediate Wave (2) : The low at 2553 is labeled as an "intermediate wave (2)," which suggests that it is part of a larger wave pattern. In Elliott Wave Theory, waves are labeled numerically and represent different degrees of price movement.
Leading Diagonal and Completed Waves: The stock's upward movement from the low at 2553 is described as starting with a leading diagonal in the internal wave 1. This is a specific pattern in Elliott Wave Theory. The stock has completed waves (i), (ii), (iii), and (iv), and is currently in the process of forming the (v) wave.
5th Wave: The analysis suggests that the stock is currently in the 5th wave, which is expected to consist of sub-waves labeled i, ii, iii, iv, and v. It is observed that waves i, ii, and iii of the (v) wave have already been completed.
Future Movement: Stock will continue its upward movement and complete waves iv and v of the 5th wave. It suggests that the target price for the stock's upward movement is 5138. However, before reaching this target, the stock may retrace back down to around 4504.
Disclaimer: The information provided is based on the interpretation of Elliott Wave Theory as described in the text. This analysis is for informational and educational purposes only and should not be considered as financial advice or a recommendation to buy, sell, or invest in any financial instrument, including stocks or securities. Market movements are influenced by a complex interplay of factors, and predictions based on technical analysis may not always accurately forecast future price movements. Trading and investing in financial markets carry risks, and it's important to conduct thorough research, consult with qualified financial professionals, and consider your own risk tolerance and investment goals before making any trading or investment decisions. The author and OpenAI do not assume any responsibility for financial decisions made based on the information provided in this response.
Dixon Technologies Ltd.*Dixon Technologies Ltd.*
P&F Formation on Yearly Basis.
Price BreakOut Sustained.
Strong Vol. Consolidation/ Continued BuiltUp.
Electronics Manufacturing PLI / Sector outlook Positive for Company.
Trail SL with Upside.
Book Profit as per Risk Appetite.
Do Your Own Research as well. This is an Opinion
Happy Investing 😇
DIXON - Bullish Swing ReversalNSE: DIXON is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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Bullish flag pattern breakout in Dixon TechDIXON TECHNOLOGIES LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Bullish flag Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 6076+.
✅Can Go short in this stock by placing a stop loss below 3730-.
Dixon Technology 1HRAccording to the DIXON Technology chart, it appears that the 5 waves of the 1 upside have been fully completed. Both the (a) and (b) waves have concluded in a downward direction, while the (c) wave is currently continuing its downward progression. There is hope that it will find support near the 61.8% retracement level, approximately at 2766, and subsequently proceed towards the 3rd wave.
Anticipated movement from the 2766 level indicates an expected rise to approximately 3667.
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