Dixon Tech Analysis - Bullish Ascension

6 lis

🚀 Dixon Tech shows a powerful breakout, with the price spiking +8.7% today, taking it to INR 15,655! This move keeps the stock within its ascending channel, with clear signs of continued bullish strength. 📊

Key Levels to Watch:

Resistance Zone: INR 16,000 - 16,300 is the potential upside, where Dixon may face some selling pressure if it reaches this area.
Support Zone: A critical support level is identified around INR 15,360. A break below this level could invalidate the short-term bullish outlook, shifting the trend towards a possible downside move.
💡 Price Action: Dixon’s price remains supported within the channel, and a strong volume spike suggests renewed buying interest. The next potential move could push towards the upper boundary near INR 16,000+ levels, following the recent breakout above resistance.

📊 Trading Strategy: For bulls, any dip towards the lower trendline or the support zone could present a buying opportunity, while aggressive traders might consider profit-booking around the 16,000 - 16,300 range.