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Dixon Technologies (India) Ltd

BUY 28 APR 11500 CALL Dixon Technologies (India) Ltd Entry Range 210-220 Target Range 395 Stop Loss 120

Rationale

* On the daily chart DIXON has witnessed a decisive breakout from its recent consolidation range aligned with the 11,000 zone, indicating a continuation of the ongoing recovery trend and renewed buying interest.

* From the technical standpoint prices are reclaimed and settled above the key moving average of the 50-DEMA, signalling a shift in near-term momentum in favour of the bulls after a prolonged downtrend.

* Momentum indicators are strengthening, with 14-Day RSI hovering in the 55-60 zone and MACD showing a positive crossover, supporting the bullish continuation outlook.

* Going ahead, the stock may extend its uptrend towards the 11,500 zone. Traders may consider a buy-on-dips approach in derivative options with maintaining strict Stoploss to manage downside risk.

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