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3i INFOTECH (3IINFOTECH)
ORIGINAL REPORT LINK: http://www.technicalanalysisbase.com/stock-analysis-station/2009-12-08--3iinfotech
Contents
List of Figures
Figure 1: 3IINFOTECH Significant Support/Resistance and Fibonacci Studies
Figure 2: 3IINFOTECH Prominent Chart Patterns
Figure 3: 3IINFOTECH Technical Indicators
General Information
Industry: IT Consulting & Software
Index Membership: BSE500 & BSESMLCAP
BSE Link: http://bseindia.com/stockreach/stockreach.htm?scripcd=532628
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Price Objectives
Upper 3 | 108 | Figure 1 |
Upper 2 | 101 | Figure 2 |
Upper 1 | 92 | Figure 2 |
Current Price | 88.85 |
|
Lower 1 | 88.20 | Figure 2 |
Lower 2 | 75 | Figure 2 |
Lower 3 | 68 | Figure 2 |
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Observations
§ Figure 1
o Major resistance at 108
§ Coinciding Factors: Resistance Level from May 2006, Triangle Apex, 61.8% Confluence Zone and the recent high of ~106.
§ Figure 2
o Symmetrical Triangle Apex at 68 will support 3i
o An intermediate W seems to be in the making. The two troughs of the W are currently being supported at 75. Furthermore, the 38.2% confluence zone nearly coincides with this level.
o The intermediate peak of the W made a high at ~88.
o 3i penetrated above this intermediate peak level (88.20) with high volume. Therefore, this level should act as support
o The minimum price objective or the W completion level is at 101
o Breakout of the descending triangle also saw a relative spurt in activity. Thus, the minimum price objective of the descending triangle is also 101.
o 3i touched its intermediate-term resistance level at ~92. An upside penetration of this level should see 3i continue rallying to 101
o Parabolic SAR: Buy
o EMA-15: Buy
§ Figure 3
o Bullish: MACD, DPO, Momentum and ROC
o Neutral: MFI and RSI
o Bearish: CCI and SlowD
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Technical Analysis
Figure 1: 3IINFOTECH Significant Support/Resistance and Fibonacci Studies
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Figure 2: 3IINFOTECH Prominent Chart Patterns
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Figure 3: 3IINFOTECH Technical Indicators
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- Sanjeet S. Parab
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