Stock Pick #DIXON : Dixon Technologies

Stock Analysis : Dixon Technologies

Overview :
Dixon Technologies (India) Limited is the largest home grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India. Dixon is leading manufacturer of lighting products of CFL, LED bulbs, LED TVs and semi-automatic washing machines in India. Dixon manufacture products for popular retail brands including Panasonic, Philips, Haier, Gionee, Surya Roshni, Reliance Retail, Intex Technologies, Mitashi and Dish. They also provides solutions in reverse logistics i.e. repair and refurbishment services of set top boxes, mobile phones and LED TV panels. Dixon is also a leading Original Design Manufacturer (ODM) in India. Company develop and design products in-house at its R&D facility. The ODM business contribute over 25% of its revenue. Company have six manufacturing facilities located in the states of Uttar Pradesh and Uttarakhand.


Technical View :
Dixon Technology launches its IPO in the year 2017 and it was listed on premium value. After the IPO stock moves upward making high 4494. From last few sessions in this stock we are seeing the profit booking. Now the stock trading is at its minor support; forming a base with Morning Star Pattern with high Volume. We expect, in upcoming few sessions stock will go up. Good bet for shorter term.
Buying zone is seen at 3670 - 3790, in upcoming few days stock heading towards 4030 / 4490.




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