DIXON-Elliott Wave + Fib Confluence | Sell on Rise Setup

Dixon Technologies (India) Ltd; CMP: 10676.00; Tmeframe: Daily (with Weekly context)

🔍 Structure Insight
Weekly chart suggests Wave (V) TOP already in place
Price now in higher timeframe corrective phase (A-B-C)
Daily chart shows complete 5-wave impulsive decline
👉 Current bounce likely a corrective pullback, not trend reversal
📊 Key Levels to Watch
🔹 Support Zone: 9,600 – 10,000
🔹 Resistance Zones (Fib):
11,100 (0.236)
12,200 (0.382)
14,000 (0.5 – strong supply)
📈 Indicator View
RSI: Recovering from oversold → supports bounce
MACD: Early bullish crossover → short-term momentum
Volume: No strong accumulation yet
🎯 Trading Plan
👉 Bias: SELL ON RISE
🔺 Pullback expected towards: 11,100 – 12,300
🔻 Downside continuation likely after rejection
⚠️ Invalidation
Sustained breakout above 12,500 – 13,000
→ Can shift structure to bullish reversal
🧠 Conclusion
📉 Trend: Bearish (Corrective Phase Ongoing)
🔁 Move: Relief Rally in Progress
🎯 Strategy: Wait for rise, then short

📌 Thanks a ton for checking out my idea! Hope it sparked some value for you.
🙏 Follow for more insights
👍 Boost if you found it helpful
✍️ Drop a comment with your thoughts below!