Today we will analyze the stock Patni Computer Systems Limited (PTI) for internet stock trading in the NYSE stock market,
Stock Technical indicators to notice in Patni Computer Systems Limited (PTI)
1- Last bullish trend was from 19.66 $ (8/11/2010) to 23.09 $ (8/25/2010) a 3.43 $ move 2- The current bearish trend started from 23.09 $ at 8/25/2010 and is currently trading at 19.66 $.
3- PTI current support level is at 18.73 which is the 127.20 % fibonacci retracement of the last 3.43 $ move.
4- PTI current resistance level is at 19.66 which is the 100.00 % fibonacci retracement of the last 3.43 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Patni Computer Systems Limited (PTI) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 23.090 and 24.070, and is currently resisting at 22.877.
Patni Computer Systems Limited (PTI) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 23.090 and 24.070, and is currently resisting at 22.877.
Patni Computer Systems Limited (PTI) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 23.090 and 24.070, and is currently resisting at 22.877.

Stock Trading Conclusion:
Patni Computer Systems Limited (PTI) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 20.47, 20.97, 21.38, 21.78, 22.16, 22.28, 22.88, 23.09,.
Stock Support levels : 18.73,.