Trade Idea of The Day - Dixon Technologies (India) Ltd Target Rs.260- Religare Broking Ltd
Dixon Technologies (India) Ltd
BUY 30 MAR 10700 CALL SELL 30 MAR 11000 CALL Dixon Technologies (India) Ltd Entry Range 118 - 124 Target Range 260 Stop Loss 50
Rationale
* On the daily chart DIXON has showing early signs of a bullish reversal after forming a strong base near the 10,000 zone, with multiple supports holding firm and indicating demand absorption at lower levels.
* Momentum indicators are improving, as 14-Day RSI has moved above 50 and MACD is witnessing a bullish crossover, suggesting strengthening upside momentum in the near term.
* Prices has reclaimed its 20-DEMA and holding above this zone, signalling short-term trend stabilization, while repeated higher lows indicate gradual buying interest emerging on every dip.
* Overall structure supports a buy-on-dips approach, with potential upside towards 11000 mark as sentiment improves and short covering continues to drive recovery
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ00017433
.jpg)
