Dixon Technologies
Updated
Cup and handle formation. entry only after breakout of resistance line. Volumes picking up day by day.
Once done, trade can be targeted for 1.618 fib levels ie; 5148 INR
SL could be placed below 50EMA
Once done, trade can be targeted for 1.618 fib levels ie; 5148 INR
SL could be placed below 50EMA
Comment
Could not breach the resistance line of Cup & Handle. But, watch-out for support at trendline (drawing at bottom of cup and handle formation marked), and then the trend could resume if broader market supports.
Comment
21Jun21: Broke the resistance line of 4457 INR (with volumes on daily basis). Let's see if this move sustains on weekly closing basis.Comment
21June21:quick note - the structure of chart has changed from "cup and handle" to breakout of "ascending triangle".
Trade closed: stop reached
SL hit. Trade closed.
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