The #VirginPriceAction charts behind the 6X returns in 11 months 🌿

Dixon Technologies is engaged in manufacturing products in the consumer durable, lighting and mobile phones markets in India. It has been leading the electronic manufacturing services (EMS) space in India. As a home grown manufacturing company, Dixon Technologies provides design focused solutions in consumer durables, home appliances, lighting, mobile phones and security devices to customers across the globe, along with repairing and refurbishment services of a wide range of products including set top boxes, mobile phones and LED TV panels. #DIXON

This stock came as a query to me on my whatsapp group in march 2020 when markets were crashing & making down circuits. The stock was trading at 3216 on 23/3/2020 when we checked the charts. We saw that price had fallen great deal & was sitting at supports in both Daily & Weekly timeframes. So check out what we saw on 23/3/ on Daily & wkly charts. Charts below.

DAILY CHART #DIXON

WKLY CHART #DIXON

So based on the above two charts, the following support were identified.

support identified on 23/3/2020

Next day on 24/3/2020 we take position between 3050 and 3140 with a 5% stops from lower band at 2890. Price did make a low of 2990 and closed at 3184 same day. From next day price starts moving up and has been a kind of one way trending move till now.

Charts updated as on date as under. The red line is where we took position.

#DIXON current market price. (wkly chart update)

Price made a high of 19990 last week &closed at 18673/-.

I am trailing the trade around 15500 conservatively which is 5X. why? because this conservatism has only made me get this 6X move in the monster.

Secondly always trail your runners. Now this stock is trading at life time highs. When a stock is trading at life time highs, it can go to any extent. No technical analysis stream can predict where it can stop because we have no historical information for the same. So just trail your trade is the mantra.

This is a simple way of analysing a stock. Let me know if u have a more simpler method.

I call this method #VirginPriceAction as I do not take anything into consideration but price. I do not use any kind of indicator, volume, open interest, fii/dii data or candlestick pattern to analyse. Old saying “bhaav bhagwan che” 😊

When u buy low, your drawdown is less, your pain is less & most importantly you are taking care of your downside well.

Note — All charts posted here are for educational purpose

CHARTS AND BLOG UPDATED AS BELOW AFTER THE STOCK SPLIT

On 17th march 2021, the stock was trading at 20074 and next day the stock went thru a split and start trading at 4100. With the stock split, our entry price changes to 610.Stock split(1:5) chart below.

stock split as mentioned above.

After the stock has split the red rounded area become our entry. please check below charts. With the new stock split, from 610 to 4270 is 7X as of now. Lets see where this takes us.

the red round area is around 610 which becomes our new entry price after the stock has split. low was 598/-

Final updated chart as below. New trailing will be around 3400 (5.5X) which will be trailed further up if stock continues to go up.

Stock is up 7X since our entry in 12 months.

If u are interested to know the right levels to enter scrips for #Investment, DM me on twitter @nareshbahrain

Or email me on nareshbahrain@gmail.com

my interview on moneycontrol. link below

Naresh Nambisan: Catching Falling Knives To Trade For A Living

my face to face interview on youtube