3I infotech closed at a 5+ year weekly closing high this Friday and breached a 5 month old resistance trendline while doing so (red tl on the chart). This breakout has come on the back of high volumes and it will most likely sustain and the stock will move higher in the short to medium term.
The three blue horizontal lines shown on the chart represent important levels for 3i Infotech since 20212 and represent potential resistances and price targets for our long trade. these targets are approximately 11.70, 13.6 and 17.45.
One can go long in 3i infotech with a WCB stoploss of 7.94 which is this weeks low