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The stock has shot out of the pattern with very high volumes.
It is a long candidate considering the setup and technicals. If it sustains levels of 4360, the likely targets are 4635 and 5020.
Be aware that the stock can face resistance around 4460.
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1)On daily time frame, previously it has taken good support from 21DMA and now today,07-09-2021, it just closed below 50DMA with good bullish candle.
Please refer below chart : Daily time frame.
Today volume also increased compare to yesterday and it was above "21Volume Moving Averange...
Dixon is bouncing from support with good volume and momentum
I will consider this stock to buy tomorrow if sustain at upper level bounce I will buy the stock.
please check to the chart for more information.
QUICK FUNDAMENTALS : Dixon Tech Q1 results: Consolidated PAT jumps 1,035% to Rs 18 cr, but misses estimates
The contract manufacturer reported a 261 per cent year-on-year rise in consolidated revenues to Rs 1,867 crore for the reported quarter.
The stock is in a good BUY Zone now. Watch out for the current level and grab it if...
Dixon - HOLD
Currently below 50 Day MA
RSI - 32 over sold
Suggestion for New Entry -
Buy at current levels or wait for a bit of correction
Expected to bounce back as its below its 50 day moving average.
Important Levels to Watch:
Supports : 4374
and the whole flag trendlines
good Buy above 4460
Targets: 4535 / 4643+
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