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 Investment World - Technical Analysis


Satyam

A bearish trend prevailed as anticipated last week. The stock dropped way below the target zone of Rs 775-780 and touched a low of Rs 712 on Friday. There is a strong support at Rs.700-710. The long-term trend would remain positive as long as this support zone is not breached. The share price appears to be on the verge of completing a corrective phase. The next of segment of the uptrend would take the stock to Rs 875-900. Remain invested with a stop-loss at Rs 700. Fresh exposures may be considered on declines, with the same stop-loss.

B. Krishnakumar

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