Financial Tech, bottomed out by posting an intra-week low of Rs. 988.05 during the week ended 16th June 2006, took support on the 999 level, commenced a short term uptrend, rallied to peak at an intraweek high of Rs. 2225.00 during the week ended 01st December 2006. The scrip couldn’t sustain these levels for long, almost took support on the 1641 level to actually bottom out by posting an intra-week low of Rs. 1641.35 during the week ended 09th March 2007. Financial Tech. moved sideways for the next few weeks — recovered to peak at an intraweek high of Rs. 3048.00 during the week ended 29th June 2007 only to decline from here. Currently the scrip seems to be on the verge of forming a higher top, higher bottom formation on the daily chart due to significant support at lower levels, could commence a medium term uptrend and with the weekly mechanical indicators also looking better, indicating the possibility of a further upside from these levels.
Trading Pointers:
Indicators: MACD-Sel RMI-SeII Stochastic-Buy ROIl-Buy RSI-Buy
Support: 1366, 1257 Resistance:1467, 1519
BSE Code —526881 55 Week EMA:121 2.57
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