Dixon Technologies (India) Ltd.
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Simple Trade Setup | DIXON | 08-09-2021

408
DIXON
Observations:

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.
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Today volume also increased compare to yesterday and it was above "21Volume Moving Averange (21VMA)".
Please refer below image.
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2) Also on 1hr time frame it made rounding bottom pattern along with double bottom.

Please refer below chart : 1hr time frame.
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3) On Daily time frame it has made V bottom pattern. And in last 4 days it breakout the neck line of it and it tested today from 4200 level and gave good upmove.
Now next neckline/resitance to watch is 4350. Any sustainable breakout of 4350 level will give good upmove.

Please refer below chart : daily frame.
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Trade Setup for Date 08-09-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

Please refer below chart for levels.
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Hope I made it easy to understand it.

Do comment your doubt or suggestion.
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