Educomp Solutions: Seeking Support

EDUCOMP Daily NSE Stock Chart Technical Analysis:


Educomp lost in a single day what it had gained in 10 preceding days.

Close & CMP:  511.50

Sentiment: Bearish

Market Outlook:

• The price has made a big single day fall and is currently resting on support.
• There is a possibility that the price may make an upward correction, but there is also a possibility that it may fall below the current support.
• The next level of support is available at 490.  
• If Educomp hits 490 and NIFTY improves, then we should have a buy opportunity on this one at that time, as the stock price could start climbing upwards again after hitting 490 if market is overall performing well.
• Falling below 490 could be dangerous for everyone in a long position on this stock.

Technical Indicators:

• The price had a big single day fall forming a marabozu candlestick, but the trading volume is not too high.
• The price managed to close at its available support level, which is a good sign.
• The momentum is falling and is mid-way, so not much of a signal available from there; but there are chances of further fall due to this falling momentum.

All posts related to Educomp

EDUCOMP Daily NSE Stock Chart Technical Analysis

Persistent Systems: Facing Resistance

PERSISTENT SYSTEMS Weekly NSE Stock Chart Technical Analysis:
(This is a weekly chart, each bar/candlestick represents one week of activity)


Persistent Systems is a 2010 IPO which started trading on 6 Apr 2010.  After an initial uprise, the price fell between July-Nov, and it has started clawing upwards again since the last 1.5 months.

Current close and CMP:  430

Market Outlook:

• The price is facing stiff resistance at 439.  Unless it breaks upwards from this price level, it will turn bearish again.
• Buy only above 439.
• If holding this stock, put your stoploss just below 423.

Technical Indicators:

• There is a diagonal line of resistance and the price has stopped rising last week after touching this line.
• The current resistance also co-incides with the 50% Fibonacci level.
• The last week ended with a Shooting Star candlestick pattern
• This is a double resistance at 439.  If the price breaks above 439, it will shoot upwards like a bullet.  But if it falls below 423, it will began another downward swing.

All posts pertaining to Persistent Systems

PERSISTENT SYSTEMS Weekly NSE Stock Chart Technical Analysis

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

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

3i Infotech Weekly: 8-12 Nov 10: Faces Resistance and Falls

3i INFOTECH Weekly NSE Stock Chart Technical Analysis

This week we see a long-legged Doji candlestick.  

The week opened at 67 and closed at CMP 67.1.  In between it made an intra-week high and low of 72.15 and 65.35 respectively.

Market Outlook:

The next week price could fall.

If it falls, the week could close between Rs. 61-63.

Technical Indicators:

Long legged Doji candlestick formation this week, 3rd successive sideways week.

Price tried to climb through resistance but failed completely and retraced.

The 20 week moving average is way below the 50 week moving average.  Looking historically, 3i gives a good upwards move when the 20 week moving average crosses the 50 week moving average from below.  This is not expected to happen any soon but when it happens, be sure to buy 3i for some good gains.

3i INFOTECH Weekly NSE Stock Chart Technical Analysis

3i Infotech Weekly: 25-29 Oct'10: Doji Candlestick

3i Infotech NSE Weekly Stock Chart Technical Analysis:

People have shown great interest in looking at the 3i Infotech charts on my blog, so I'm adding a weekly analysis of this stock as well.

3i Infotech has formed a Doji star.  After a good rise last week, this week has seen some profit booking, leading to a balanced market with neither the buyers nor the sellers in control.

The week opened at 66.9 and closed at 67.2.  The intra week high and low were 70.25 and 65.2.  This is less than 10% volatility and almost negligible difference between the open and close price, inspite of good volume.

Outlook for next week: The price is expected to move sideways for the coming week.

Technical Indicators:

The price finally peeked above the 50 week moving average after 6 months.  This is a good sign as the stock is struggling to break its sideways trend and rise upwards.  

But the appearance of a doji candlestick shows that the market is not very sure if the price should be pushed beyond the 50 week moving average.  In fact, the price went beyond this line during the week but the price closed below this line.  That's not too optimistic

The stock has slowed its journey towards the oversold levels.  So it might soon turn downwards.  Based on this indicator, the price should move sideways next week, and then fall back in the week after that.  Unless of course, some big news comes in.

Talking of big news, there are rumors that Satyam Mahindra may consider buying 3i Infotech.  This is unconfirmed, but if this happens, 3i Infotech could suddenly be seen soaring high above its current price level.  

3i Infotech & 200-day EMA

3i Infotech stock price on BSE has crossed its 200-day EMA from the underneath after almost 6 months of staying under the 200 day moving average.

This could mark a positive sign for 3i Infotech in the stock market.  

A closer looks shows that today, the stock price went to an intraday high above the 200 day moving average but it dropped back to close further below with good volume.

Moreover, the intraday high touched and retracted from a trendline that is supported by some other tops and bottoms in the past 6 months.

Though the stock has faced resistance at this level, breaking through the 200 day moving average is a very positive sign and if the price breaks through this resistance with confirmation on next successive day/s, its a good time to long this stock.  I'll keep this forum updated.