3i Infotech Hits The Double Top Barrier

3i INFOTECH Daily NSE Stock Chart Technical Analysis:


3i Infotech opened gap down and people showed little interest in trading it at the current price level.

Market Outlook:

• The price is trying to resist further fall.  But how much it succeeds, we can only find out next week.  For now, no trading signals on this one, wait for Monday trading scenario before getting into 3i.

Technical Indicators:

• The price has made a Double Top near 59.50, a level that co-incides with the 38.2% Fibonacci Retracement level.  This makes it a strong resistance point an indicator that the price may fall further.
• The stock is majorly over-sold at the current level and momentum is headed downward.
• The only saving grace is the Doji candlestick which has formed on Friday, this is showing that the market is resisting a further fall and might try to climb on Monday.  However, the chances of this happening do not look very hunky-dory.
• As for now don't get into 3i Infotech, wait for signals.

All Previous Blog Posts About 3i Infotech


3i INFOTECH Daily NSE Stock Chart Technical Analysis