Infotech Enterprises - Book Profits

Infotech Enterprises has entered into the channel of Rs. 70 margin. It is currently trading at Rs. 503.

• The MACD has shown a decline over the past few days as indicated above. While the convergence of the upper line is yet to occur with the lower line or the 9 day moving average indicator, there are signs that it would happen from the vertical bars given by its decrease in margins.
  
• The RSI is confirming this downtrend as with the OBV given in the lower chart.
  

The above charts give indications of booking profits in the stock. It is a bit early to define this decline as a proper downtrend. However, any further decline to 485 can be given a 'sell' signal. The stock can fall to 450 after that.