Dixon Technologies Share Price Movements with Wave Theory
Synopsis of Dixon Technologies Share Price Movements with Wave Theory Correlation
The share price of Dixon Technologies has demonstrated significant fluctuations and growth over the past few years, aligning with the principles of Elliott Wave Theory. This theory suggests that market prices move in predictable wave patterns, typically consisting of five major waves followed by three corrective waves.
Miner Waves Analysis
Wave 1: Date: February 2020, Price: ₹919.45
Description: This initial upward movement marks the beginning of the bullish trend.
Wave 2: Date: March 2020, Price: ₹678.25
Description: A correction phase that follows the first wave, typically retracing a portion of Wave 1's gains.
Wave 3: Date: March 2021, Price: ₹4267.25
Description: Often the strongest and longest wave in the Elliott Wave sequence, Wave 3 represents a significant upward move.
Wave 4: Date: August 2021, Price: ₹4046.25
Description: Another corrective phase, Wave 4, generally retraces less than Wave 2. The target for Wave 4 typically aims to correct 38.2% to 50% of Wave 3, which aligns with the observed price movement.
Wave 5: Date: October 2021, Price: ₹5112.05
Description: The final wave in the primary bullish trend, Wave 5, usually completes the uptrend before a larger corrective phase begins.
Intermediate Waves Analysis
Intermediate Wave (1): Date: October 2021, Price: ₹5112.05
Description: This wave mirrors the final leg of the miner waves, marking the beginning of a new, larger wave cycle.
Intermediate Wave (2): Date: January 2023, Price: ₹2553
Description: A substantial correction that aligns with the typical Wave 2 pattern, correcting a significant portion of Wave (1).
Intermediate Wave (3): Date: July 2024, Price: ₹12879
Description: Following the principles of Elliott Wave Theory, Wave (3) in the intermediate cycle is expected to be the most powerful, reflecting a strong upward movement.
Intermediate Wave (4) Target: Target Price: ₹8900-₹9000
Description: Based on Elliott Wave Theory, Intermediate Wave (4) is projected to correct approximately 38.2% of Wave (3), targeting a price range of ₹8900-₹9000.
Conclusion
The share price movements of Dixon Technologies from February 2020 to July 2024 align well with Elliott Wave Theory. The price started at ₹919.45 and went through a series of upward and corrective waves, reflecting typical wave patterns. The miner waves demonstrated an initial uptrend followed by corrections, culminating in a peak at ₹5112.05. Subsequently, the intermediate waves exhibited a similar pattern, with a substantial correction followed by a strong upward wave, reaching ₹12879 in July 2024. The target for Intermediate Wave (4) is projected to be in the range of ₹8900-₹9000, based on a 38.2% retracement of Wave (3). This analysis confirms the applicability of wave theory to Dixon Technologies' share price movements, indicating predictable patterns in market behavior.
Disclaimer
It's important to note that investing in shares involves risks, and past performance is not indicative of future results. The information provided here is based on technical analysis and Elliott Wave Theory, which are tools used to analyze market trends but do not guarantee future outcomes. Investors should conduct their own research or consult with a financial advisor before making investment decisions.
The share price of Dixon Technologies has demonstrated significant fluctuations and growth over the past few years, aligning with the principles of Elliott Wave Theory. This theory suggests that market prices move in predictable wave patterns, typically consisting of five major waves followed by three corrective waves.
Miner Waves Analysis
Wave 1: Date: February 2020, Price: ₹919.45
Description: This initial upward movement marks the beginning of the bullish trend.
Wave 2: Date: March 2020, Price: ₹678.25
Description: A correction phase that follows the first wave, typically retracing a portion of Wave 1's gains.
Wave 3: Date: March 2021, Price: ₹4267.25
Description: Often the strongest and longest wave in the Elliott Wave sequence, Wave 3 represents a significant upward move.
Wave 4: Date: August 2021, Price: ₹4046.25
Description: Another corrective phase, Wave 4, generally retraces less than Wave 2. The target for Wave 4 typically aims to correct 38.2% to 50% of Wave 3, which aligns with the observed price movement.
Wave 5: Date: October 2021, Price: ₹5112.05
Description: The final wave in the primary bullish trend, Wave 5, usually completes the uptrend before a larger corrective phase begins.
Intermediate Waves Analysis
Intermediate Wave (1): Date: October 2021, Price: ₹5112.05
Description: This wave mirrors the final leg of the miner waves, marking the beginning of a new, larger wave cycle.
Intermediate Wave (2): Date: January 2023, Price: ₹2553
Description: A substantial correction that aligns with the typical Wave 2 pattern, correcting a significant portion of Wave (1).
Intermediate Wave (3): Date: July 2024, Price: ₹12879
Description: Following the principles of Elliott Wave Theory, Wave (3) in the intermediate cycle is expected to be the most powerful, reflecting a strong upward movement.
Intermediate Wave (4) Target: Target Price: ₹8900-₹9000
Description: Based on Elliott Wave Theory, Intermediate Wave (4) is projected to correct approximately 38.2% of Wave (3), targeting a price range of ₹8900-₹9000.
Conclusion
The share price movements of Dixon Technologies from February 2020 to July 2024 align well with Elliott Wave Theory. The price started at ₹919.45 and went through a series of upward and corrective waves, reflecting typical wave patterns. The miner waves demonstrated an initial uptrend followed by corrections, culminating in a peak at ₹5112.05. Subsequently, the intermediate waves exhibited a similar pattern, with a substantial correction followed by a strong upward wave, reaching ₹12879 in July 2024. The target for Intermediate Wave (4) is projected to be in the range of ₹8900-₹9000, based on a 38.2% retracement of Wave (3). This analysis confirms the applicability of wave theory to Dixon Technologies' share price movements, indicating predictable patterns in market behavior.
Disclaimer
It's important to note that investing in shares involves risks, and past performance is not indicative of future results. The information provided here is based on technical analysis and Elliott Wave Theory, which are tools used to analyze market trends but do not guarantee future outcomes. Investors should conduct their own research or consult with a financial advisor before making investment decisions.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.