3i InfoTech

3i Infotech made its all time high @ 164.5 in May'07. It made a huge distribution pattern arround this level for almost one year n along with market it started declining in 2008. Once its support line was broken in Sep'08 , it went for a total collapse and hit its all time low of 25 registering a massive decline of 80 % in a span of six months. After touching its all time low of 25 in Mar'09, it made a massive recovery n hit 102.9 in Sep'09 , a recovery of 55.8 %. Arround these levels , it met resistance from 200 WMA n could not conquer it. 200 WMA at present is hovering @ 96.4, which caps the upside for the counter. Stock is in overall downtrend n on downside it appears some support will be witnessed @ 64, 54.8,43.4,37.2,32 n ultimately @ 25. Testing of 25 in long term is not ruled out for stock but that testing should be taken as an opportunity to buy into the stock. Sell Out @ 65.6