Dixon Technologies (India) gained 2.08% to Rs 13,607.85, extending its winning run to ninth consecutive trading session.
Shares of Dixon Technologies have added 19.44% in nine trading days from its previous closing low of Rs 11392.95 on 4 December 2020. The counter hit an all time high of Rs 13,756 in intraday today. It has rallied 369% from its 52-week low of Rs 2,899.95 hit on 24 March 2020.In last three months, Dixon Technologies has jumped nearly 40%, outperforming the BSE Sensex which rose 20.26% in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 83.987. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 10415.54 and 9460.22 respectively. These levels will act as crucial support zones in near term.
Dixon Technologies (India) is a design-focused products and solutions company. The firm engages in manufacturing products in the consumer durables, lighting and mobile phones markets in India.
The company reported 22% rise in consolidated net profit to Rs 52.36 crore on a 17% rise in net sales to Rs 1638.74 crore in Q2 September 2020 over Q2 September 2019.
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