Dixon Technologies: CMP: 18006
✨ Elliott Wave View: Dixon Technologies is currently exhibiting a classic Elliott Wave structure on the daily chart. The impulsive phase (waves 1, 2, 3, 4, 5) is well-formed, showing sustained upward momentum, followed by an a-b-c corrective sequence.
Wave V Uptrend: The stock has completed its a-b-c correction and is now progressing into wave V, with bullish structure and higher price targets in focus.
🛑 Support & Resistance: Strong support is observed around ₹17,000–₹17,800, aligning with moving averages and prior pivots; resistance is projected near ₹20,000–₹21,000, the next major Elliott extension.
📌 Strategy (Entry & Targets):
Momentum Entry: If price breaks and sustains above ₹18,200, quick rally possible till ₹19,000–19,200. Stop Loss: ₹17,600
Avoid chasing now at ₹18,000 (overbought). Wait for dip toward ₹16,800–17,200 (good R:R)Prefer dips near ₹16,800–17,200 or breakout above ₹18,200.
T1: ₹18,800–19,200
T2: ₹20,500–21,200
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✨ Elliott Wave View: Dixon Technologies is currently exhibiting a classic Elliott Wave structure on the daily chart. The impulsive phase (waves 1, 2, 3, 4, 5) is well-formed, showing sustained upward momentum, followed by an a-b-c corrective sequence.
Wave V Uptrend: The stock has completed its a-b-c correction and is now progressing into wave V, with bullish structure and higher price targets in focus.
🛑 Support & Resistance: Strong support is observed around ₹17,000–₹17,800, aligning with moving averages and prior pivots; resistance is projected near ₹20,000–₹21,000, the next major Elliott extension.
📌 Strategy (Entry & Targets):
Momentum Entry: If price breaks and sustains above ₹18,200, quick rally possible till ₹19,000–19,200. Stop Loss: ₹17,600
Avoid chasing now at ₹18,000 (overbought). Wait for dip toward ₹16,800–17,200 (good R:R)Prefer dips near ₹16,800–17,200 or breakout above ₹18,200.
T1: ₹18,800–19,200
T2: ₹20,500–21,200
📌 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!
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.