Hi, Here i am sharing you upcoming support and resistance of NSE:DIXON . This is my personal analysis, only to learn stock market behavior. Thanks.
Price has confirmed an Uptrnd by violating a Potential Supply formed in 4H chart, then formed this Fresh Demand Zone. Which defines the Reward to Risk Ratio of 5:1, till Price reaches the Fresh Quarterly Supply, Price shoould STRONGLY DECLINE after the Target of BUY Trade is achieved. CHEERRRRRSSSSS!!!!! ENJOY THE RIDE !!!
From 19th October the stock has been consolidating in a symmetrical triangle pattern. It is near its support. Wait for the confirmation before entering inro the stock. Nearly 3 months of consolidation has been there. Once the stock price leaves the consolidation phase it can give a good moment either side.
DIXON Daily Time Frame Analysis SO given a good breakout with a good volume - If it continues it rally we can see 5500-5800-6000 within next few sessions - But may consolidate it is good as long as it is above 5000 -Green Candle are Resistance -Yellow are support Let's see where it goes *Just m views not an investment advice*
Buy Dixon Target 🎯 5100 because it's recently given major breakout