3i Infotech Resistance at Rs 70

3i Infotech Daily NSE Stock Chart Technical Analysis:


3i Infotech on NSE maintained its line of resistance at Rs 70 and fell throughout the day to close at 67.05.  The support for this fall is found at Rs 65 and Rs 66.


Market Outlook: The price could fall further tomorrow and test the support levels of 66 and 65.  If Rs 65 is broken and the price falls below that, it could lead to a downtrend.


Technical Indicators:


Rs 65 is a long term support line and 3i price has repeatedly found support on this line in the past 2 years, which makes it a very important level to watch.


Rs 65 is also the 61.8% level for the current Fibonacci Retracements, which makes it even more important right now.

Educomp Solutions U-turns After Long Fall

EDUCOMP SOLUTIONS Daily NSE Stock Chart Technical Analysis


Educomp Solutions Ltd on NSE made a U-turn today after 3 weeks of downfall.  


The price opened at 555 and closed at 548.9.  Though the price closed lower than its open, it closed above yesterday's intraday low, which also comes as a welcome sign at this point.


Market Outlook:  The price should begin going up again, but wait a couple of days for confirmation before buying.  Points of resistance will be at 614, 654 and 700.  The points of support in case the price falls will be at 550 and 540.  


Technical Indicators:

• The downfall slowed down and turned after strong high volume falling, this seems to be an exhaustion.  

• The price makes a double bottom at 548.  This also happens to be the Fibonacci 50% support level.

• This long term view of the chart is a classic example of resistance turning into support and vice-versa.