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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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.