Hello Traders,
Looking at the current rally on the broader index as well as many individual stocks it seems that the market is not ready to take breather. At the very same time every other week there are few stocks which are making traders & investors richer in as low as month to three months time.
Here is a Gem, Dixon Technologies India Ltd.
Its no brainer why & how the stock is moving up.
Technically speaking the 20 & 50 EMA Crossover two weeks back on daily chart,
Stock actually sustaining above its 52 week high
& A base formation above the 52 week high of 4735 Is hinting that the stock can still keep on rising & may even go up by another 10-20% up in a month or two
There is Higher High & Higher Low formation indicating a strong uptrend in the stock
RSI already above 70 on Daily and weekly chart indicates overbought but the buying isn’t getting halted
The momentum is high & in friday’s session the stock already rose by 8%
High risk traders can consider entering at current price with reward-risk planning
Low risk traders can wait for price to test the 4735 & enter conservatively there.
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Happy Trading…..
Be a Wealthy Trader…..
DChandrakant
