NSE:DIXON   DIXON TECHNOLOGIES
DIXON has run up from 2990 to 6666 i.e. 123% in merely 4 months.

So there is no denial in the power this stock has to run further. Targets and time frame cannot be predetermined so the best thing to do in such a situation is buy in SIP and always ride the stock with a trailing Stop Loss.

I see a buying opportunity between 6150 and 6300. However if the price breaks the channel on the downside then be cautious to see if it takes support near the next support dotted line.

The RSI is also presently in the overbought zone.
Comment: DIXON is getting ready to fire again.(Most probably)
Comment: Very beautifully riding the channel border. I see small diamond formation at the top indicating some correction so be cautious and nifty is also facing resistance so as long as it doesn't breach the channel border it is good to hold.
Comment: Showed strength on 25th Aug and is riding again.

Comments

That's is a great analysis @CautiousChartist ! The RSI is really overbought. Dixon by the way is a great company which is into manufacturing mobiles, washing machines and lighting solutions in India. I think it should be in the portfolio because of all the anti sentiments of a neighbour country right now. If this company gets huge make in India orders then it will surely give another 100% returns till year end.
Huge thanks for the chart! I am learning.
+1 Reply
@Taurus333, Yes fundamentally no doubt this company is good. But since Nifty has been running for quite some time, the entry in any stock becomes very critical and that is where charts and indicators aid our decision making. This is how we help each other. I will keep an eye on Dixon from now on. Thanks a lot.
Reply
Taurus333 CautiousChartist
@CautiousChartist, never seen such a bull run! I sold at 6773 but it broke the high and made a new high. Don't know it will fall to 6300 or not. What do you think @CautiousChartist
+1 Reply
@Taurus333, The volume in this breakout hasn't been suggesting that there is a fresh strength but cannot conclude till EOD. Nifty broke major resistance on Friday so there is a bullish sentiment. However the chart suggests a pull back should be around the corner even if it has to march further. Now 6300 seems a little unlikely but around 6400. possible.

In good stocks , if you want to ride it to it's potential then don't keep targets. Only trail the stop loss by 7-10%
Reply
Taurus333 CautiousChartist
@CautiousChartist, Thanks for your valuable comments. Looking forward to your comments at EOD. I am planning to again enter in this stock.
Reply
@Taurus333, Since the close is right at the intersection, we can asssume that the resistance was really strong because in spite of crossing 7000 it didn't convincingly close above the resistance. Tomorrows EOD candle could explain the story better,
Reply
Taurus333 CautiousChartist
@CautiousChartist, Yes! will have to wait for tomorrow and get a clarity. How should we do SIP in such stocks?
Reply
@Taurus333, SIP is the same for every volatile/non volatile stock based on earning-saving capacity..
Reply
Taurus333 CautiousChartist
@CautiousChartist, need your valuable comments after EOD.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out