Technical Stock Pick: This FY24 multibagger is likely to head towards Rs 8,000; time to buy?

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Key Points

Dixon Technologies, part of the consumer electronic industry, has more than doubled investors wealth in FY24 and the chart pattern suggests that the rally may not be over yet...

Short-term traders can look to buy the stock now for a possible target of around Rs 8,000 apiece in the next 3-4 weeks, suggest experts...

Dixon Technologies stock bounced back after retesting 50-DMA on the daily charts in March 2024 to hit a fresh record high in April 2024..

Dixon Technologies stock is in overall uptrend and forming higher highs higher lows structure on monthly scale, Arpit Beriwal, Analyst, Equity Derivatives & Technicals, MOFSL, said...

Looking at the overall chart structure we are recommending to buy the stock with keeping stop loss below Rs 7,050 levels on closing basis for a new lifetime high target towards Rs 8,050 zones, recommended Beriwal...