DIXON Clears ₹17,000! Strong GDP Data Fuels Momentum...DIXON has been consolidating in a bullish structure over the past few weeks, forming an Inverted Head & Shoulders pattern on the daily timeframe – a strong reversal signal that often precedes major trend shifts.
📈 Technical Breakout:
Today, the stock broke above the ₹17,000 neckline resistance with strong volume and closed 5.3% higher intraday. This breakout candle confirms buyer dominance and signals a potential shift into a sustained uptrend.
🔍 Trade Plan:
* Entry Zone: Look for a retest of ₹17,000 for a safer entry.
* Stop-Loss: ₹16,450 (recent swing low & neckline support).
* Target Levels:
* 🎯 ₹18,200 – Near-term resistance based on recent price action.
* 🎯 ₹19,000 – Next significant supply zone.
* 🎯 ₹20,200+ – Medium-term target based on pattern projection.
🌐 Fundamental Tailwind:
India’s strong GDP growth data has boosted investor confidence, providing a macro push that aligns with DIXON’s bullish breakout. The confluence of technical strength and economic optimism increases the probability of a strong follow-through rally.
📊 Takeaway:
This setup combines a clear breakout, defined risk levels, strong volume confirmation, and positive macro sentiment – an ideal scenario for trend-following traders.
