3I Infotech was listed in way back on 22 April 2005, this software firm has grown very steadily in past few years time. Also we are expecting this growth to continue for its long term run. When we look at charts its shock is mildly bearish and needs to consolidate in next few months, but if it closes above the 53 level we are going to see the bullish trend coming again in this stock. So for investors we will recommend to enter the long positions only above the 53 level for 6 – 9 months target of 77 and 88. We will also recommend investors to place their protective stop loss below 47 levels. This stock is in the series of making higher high and higher low, so we expect this series to continue once we close above the 53 levels. Currently stock is trending down and we expect it move in that direction, annual results were major dragger for this stock.
About Bhaveek PatelBhaveek Patel is technical analyst and investor, his areas of interest includes stock market, forex and gold.
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