3i Infotech Daily Chart
1. Stock is outperforming the NIFTY50 over the past 50 days
2. Stock is trading above the 15, 40, and 100 day SMA & it crossed the 15 day SMA yesterday
3. MACD histogram has given an uptick below the 0 line
1. Stock is outperforming the NIFTY50 over the past 50 days
2. Stock is trading above the 15, 40, and 100 day SMA & it crossed the 15 day SMA yesterday
3. MACD histogram has given an uptick below the 0 line
4. RSI14 is in the bullish zone, facing up & is in convergence with the price action. A positive crossover between RSI5 & RSI14 happened yesterday
5. The stock is on the verge of breaking its previous high of 6 years at 9.8 & will also breakout from a 6 month consolidation period
5. The stock is on the verge of breaking its previous high of 6 years at 9.8 & will also breakout from a 6 month consolidation period
6. Buy at the CMP with a stop-loss at 8 (40 day SMA) for the following targets -
- 13.55
- 18
- 22
Note - The targets are very conservative as the stock has made a rounding bottom & 2021 has recorded the highest volumes in the history of the stock, suggesting strong accumulation
- 13.55
- 18
- 22
Note - The targets are very conservative as the stock has made a rounding bottom & 2021 has recorded the highest volumes in the history of the stock, suggesting strong accumulation
#trading #investing #technical #analysis #charts #stockmarket #breakout #watchlist #equity #NIFTY #SENSEX
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