Financial Techno: An Upward Movement Possible

FINANCIAL TECHNO Weekly NSE Stock Chart Technical Analysis:

(This is a weekly chart, so each bar/candlestick represents 1 week of activity)

Financial Techno has been falling since April 2010.

Close & CMP: 704

Market Outlook:

• The price is expected to go sideways or make an upward correction now.  And this upward correction could be sustainable as well.
• The resistance is at 904 if this upward correction happens.
• If the price closes below 713 for a couple of more days, it could be an immediate bearish signal.
• यह शेयर अप्रैल २०१० से गिरता चला जा रहा है.  अभी इसे सुप्पोर्ट मिला है और यह साइडवेज जा सकता है या थोडा ऊपर की और भी जा सकता है.  अगर ऊपर गया तो ९०४ पर रेसिस्टेंस है.

Technical Indicators:

• This stock has retraced to 23.6% of its position, a very bearish place to be.
• The current price level seems sustainable.  
• The force is quite less compared to the massive volume.  The stock price could exhibit upward movement. 

All posts related to Financial Techno

FINANCIAL TECHNO Daily NSE Stock Chart Technical Analysis

(analyzed for Prashant, Surat)

Financial Techno: On Support Line, Might Rise

FINANCIAL TECHNO Daily NSE Stock Chart Technical Analysis:

Financial Techno fell for the 9th straight day today.  Open: 870.1, Close & CMP: 824.15

Market Outlook:

• The price has found support at 778.  It could make an upward correction now.
• Good chance to make short term gains if this makes an upward correction. Shorting opportunity if it breaks the support trendline.

Technical Indicators.

• There is a support trendline formed and the price took support on it.  It rose after touching this support line at 776 and closed higher at 824.
• This stock might be actively traded on Monday and a upward correction is possible. 
• The upward may not last long though, this is purely a short term opportunity if it rises.  The sell target is not very visible yet but 1000 is the highest point we exit could be made.  I'll update the target if the stock price rises on Monday.
• If the price falls and closes below the support line, the price might just fall further and present a short sell opportunity (not sure if this one is traded in F&O, though)

FINANCIAL TECHNO Daily NSE Stock Chart Technical Analysis

Financial Techno: Falling Further

FINANCIAL TECHNO (I) Daily NSE Stock Chart Technical Analysis:

Financial Techno opened higher than yesterday's close but pushed downwards to close below yesterday's close. And such behavior on a day when the markets zoomed upwards by over a 100 points.

The stock opened at Rs 1065 but closed way down at 1026.65.  It also made a deep intraday low of 996.  

Market Outlook:  Financial Techno could fall tomorrow, and in the coming days as well.

Technical Indicators:

The price pushed down throughout the day, and there was a weak rally upwards at the end of the day.

The price is facing resistance from the Fibonacci 50%.

There is also a long term line of resistance drawn from Jan 2008.  This makes it a very strong resistance line and might be difficult to break now that the price has fallen below it.  The price would slide down for the next few days trying to negotiate this diagonal line of resistance as visible on the chart.

However, if the price manages to climb above this line of resistance, it could alternately act as a strong line of support instead.  The results should be out in 2-3 trading sessions.

News:

Financial Techno has run into problems with SEBI over the past couple of months and been disallowed various permissions.  But at the same time, it has expanded base by starting exchanges in Singapore and Mauritius.  In the long term, foreign success could pay off.  But this will take time to show up in the stock price, if at all FT enjoys success in its new ventures.


(Analyzed on request of Prakash, Vidisha)