In the previous session, the markets opened on a strong positive note and remained in a positive territory throughout the day. The Nifty index made a day high near 17966 and closed with a net profit of 119 points. Technically, the index made a bullish candle on the chart. Hence, we recommend continuing to approach the markets in a stock-specific way.

 Look at the below research report of ‘Stocks to Buy for Thursday, August 18, 2022’ before the market opens.

Dixon Technologies (India) Ltd.

In the daily time frame, Stock is moving in the form of an ‘Ascending Triangle Pattern’. As per the daily chart, a long entry signal will be triggered only above previous day’s high near 4055. Stock formed a Strong Bullish candle on the chart and closed with a net gain of 2.73%. In addition, The Relative Strength Index (RSI) on the daily chart is 63.70 and it is moving above previous high.

In short, DIXON chart looks attractive, one can initiate buy above 4055 which can take price towards 4265. This outlook is valid as long as we do not see any closing below 3835 levels.

Check More Analysis on DIXON at: Dixon Technologies (India) Ltd.