DIXON – Complex H & S Pattern Formed – Bearish Outlook

📉 DIXON – Complex Head & Shoulders Pattern Formed – Bearish Outlook
Timeframe: 15-minute chart
Date: May 5, 2025

🔍 Chart Pattern Observed:

DIXON has formed a Complex Head and Shoulders (H&S) pattern, which is typically a trend reversal pattern. This specific setup consists of:

Two Left Shoulders (LS#1 and LS#2)
One Central Head
Two Right Shoulders (RS#1 and RS#2)
This complexity often adds higher reliability to the pattern due to multiple retests of key resistance zones.

📊 Technical View:

The neckline of the H&S pattern has been tested multiple times.
Currently, the price is hovering near the end of Right Shoulder #2, which suggests the possibility of a near-term top.
A break below the neckline with strong volume could trigger a sharp downside move.
📉 Bearish Scenario Projection:

Once the neckline is decisively broken, downside targets could extend toward the ₹15,000–₹14,600 zone.
This matches the height of the head projected downward from the neckline.
🛑 Risk Management:

Invalidated if price closes strongly above ₹16,900, breaching RS#2 high.
Watch for breakdown confirmation with volume spike and bearish follow-through candles.
🔔 Conclusion:

DIXON shows signs of exhaustion after a strong uptrend and has printed a reliable complex reversal pattern. Traders should watch for confirmation below neckline support to initiate short positions. Be patient and wait for a clear trigger to avoid premature entries.

📌 Disclaimer: This analysis is for educational purposes only and does not constitute trading or investment advice. Always consult your financial advisor before making any trading decisions.