3i Infotech features in the ASM LT Stage 4 surveillance. The share price of 3i Infotech saw a spurt in volume by more than 1.13 times on Tuesday.

The surge in the stock price is seen on the back of a spurt in volume. The total trade volume for the stock has already surpassed its prior trading session’s volume.   So, what’s working in the favour of this stock?

Considering that we are seeing outperformance from the broader markets, we will look for the stocks that are crossing their previous day’s high in the early deals as these could give us a trigger of the stocks that could outperform or deliver alpha returns in the coming days.

Nucleus Software, the leading provider of lending and transaction banking products to the global financial services industry, announced that it will empower South Indian Bank, a Kerala based leading Private sector bank in South India, by providing the best-in-class digital solution offering to revamp the bank’s current retail lending landscape. 

While the number of declining stocks was more than the number of stocks that advanced there were several stocks that bucked the trend in the broader markets and gather positive momentum.  

Stock SIP in several trending midcap IT stocks would have been a market beating investment with stock SIP in some of these mid cap IT stocks generating returns close to 73 per cent on annualised basis.  

While the small-caps underperfomed, there were several penny stocks that gained with spike in volumes on Monday. 

Some of the top performing IT stocks have gained up to 21.46 per cent in one week alone. Megri Soft ltd is the top performing IT stocks that has gained by 21.46 per cent. Continental Chemicals is up by 21.38 per cent while Otco International is up by 21.18 per cent.

While several FMCG and IT stocks outperformed we find that stocks belonging to the chemicals sector have also outperformed this week.

RSI above 70 is considered bullish while a bullish stochastic crossover reflects strong momentum in prices. Following stocks are reflecting RSI levels of 70 and higher while also reflecting bullish stochastic crossover.