#Dixon Tech Stock Surges To Record High, Rises 8% On Smartphone Manufacturing JV With #Vivo

Shares of Dixon Technologies surged nearly 5% in trade on December 16, hitting a record high of ₹18,815 at close, after the company announced a JV to establish a new manufacturing joint venture with Vivo India. This strategic partnership will see Dixon holding a majority 51% stake, while Vivo India will own the remaining 49%. The joint venture is set to cater to Vivo's smartphone OEM requirements in India and is expected to expand into manufacturing other electronic devices for different brands Kiran Jani, Head Technical Research at Jainam Broking, maintains a bullish outlook on Dixon Technologies, citing the stock's strong ongoing rally. He advises investors to consider entering the stock on dips around ₹18,000-₹18,500 and suggests a strict stop loss at ₹18,000 to minimise downside risk. According to Kiran Jani, the stock is well-positioned to achieve short-term targets of ₹19,000-₹20,000, as it remains resilient on daily price charts. He emphasises that Dixon’s strategic tie-up with Vivo adds a significant growth driver to its business, making it an attractive opportunity for investors looking for steady returns. Meanwhile, Brijesh Singh, Sr. Technical Analyst at StockAxis, notes that Dixon is in a "circular bull run" that began in March 2023, as evidenced by its parabolic movement on weekly charts. He highlights key support levels at ₹17,200 and ₹16,000, recommending these as stop-loss levels for medium- and long-term investors, respectively. For those holding a short- to medium-term view of 3-6 months, Brijesh Singh sets a target of ₹22,500, with expectations that the stock could potentially reach ₹25,000-₹30,000 for those with a one-year horizon or longer. He also points out that the strong volume-backed buying pattern suggests sustained momentum, making Dixon a robust pick for investors willing to ride out volatility. Both analysts underscore the stock's strong technical and fundamental outlook, buoyed by its strategic partnership and solid industry position. As Dixon expands its manufacturing capabilities and captures a larger market share, it could continue to deliver substantial returns for investors over both short- and long-term horizons.

Shares of Dixon Technologies surged nearly 5% in trade on December 16, hitting a record high of ₹18,815 at close, after the company announced a JV to establish a new manufacturing joint venture with Vivo India. This strategic partnership will see Dixon holding a majority 51% stake, while Vivo India will own the remaining 49%. The joint venture is set to cater to Vivo's smartphone OEM requirements in India and is expected to expand into manufacturing other electronic devices for different brands Kiran Jani, Head Technical Research at Jainam Broking, maintains a bullish outlook on Dixon Technologies, citing the stock's strong ongoing rally.

He advises investors to consider entering the stock on dips around ₹18,000-₹18,500 and suggests a strict stop loss at ₹18,000 to minimise downside risk. According to Kiran Jani, the stock is well-positioned to achieve short-term targets of ₹19,000-₹20,000, as it remains resilient on daily price charts. He emphasises that Dixon’s strategic tie-up with Vivo adds a significant growth driver to its business, making it an attractive opportunity for investors looking for steady returns.

Meanwhile, Brijesh Singh, Sr. Technical Analyst at StockAxis, notes that Dixon is in a "circular bull run" that began in March 2023, as evidenced by its parabolic movement on weekly charts. He highlights key support levels at ₹17,200 and ₹16,000, recommending these as stop-loss levels for medium- and long-term investors, respectively.

For those holding a short- to medium-term view of 3-6 months, Brijesh Singh sets a target of ₹22,500, with expectations that the stock could potentially reach ₹25,000-₹30,000 for those with a one-year horizon or longer. He also points out that the strong volume-backed buying pattern suggests sustained momentum, making Dixon a robust pick for investors willing to ride out volatility. Both analysts underscore the stock's strong technical and fundamental outlook, buoyed by its strategic partnership and solid industry position.

As Dixon expands its manufacturing capabilities and captures a larger market share, it could continue to deliver substantial returns for investors over both short- and long-term horizons..