Dixon Tech Shares Up 2% But Down 35% From Peak; Analysts Warn of Continued Weakness

• Dixon Technologies (India) shares rose over 2% on Jan 7, ending a two-session losing streak, but remain 35% down from their September high of Rs 18,471.
• Analysts Siddharth Maurya (Vibhavangal Anukulakara) and Kunal Kamble (Bonanza) foresee continued short-term weakness, citing the stock trending below major moving averages and forming lower tops/bottoms.
• The stock has seen significant declines: over 3% in 5 days, 13% in one month, and nearly 24% in six months.
• Key support levels are identified at Rs 11,700 and Rs 11,000, with a potential drop to Rs 10,500 if these fail.
• A decisive move above the Rs 12,600-13,000 resistance level is crucial to improve the short-term outlook, as current volumes are muted and RSI signals oversold conditions.

Why It Matters: Dixon Tech shares show short-term weakness despite a recent gain; analysts predict further pressure.