The Dixon Technologies stock rebounded from its support near Rs 15,953, with resistance around Rs 17,295. It trades below its 20-day and 50-day EMAs of Rs 17,391 and Rs 15,869, signalling short-term weakness. However, staying above the 100-day EMA at Rs 14,417 reflects medium-term support, suggesting potential stability despite recent challenges in the shorter timeframe.
Tech view: Lack of strength limits Nifty’s breakout potential, key support at 23,150. How to trade on Friday
Nifty’s short-term trend remains positive, but lacks strength for significant breakouts. Key resistance levels are at 23,400-23,450, while immediate support is at 23,150. Analysts suggest
January 16, 2025