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Satyam Computers has been moving sideways between Rs 400 and Rs 520 since January. This move is correcting the rally from the May 2006 trough of Rs 270. A 50 per cent retracement has been completed and the stock has made a double bottom at Rs 404. Oscillators in the daily and weekly chart are signalling a buy. The stock can rally towards Rs 465 or Rs 477 in the medium term.

However, caution should be exercised until there is a close above the 50- and 200-day moving averages positioned in the band between Rs 460 and Rs 465. Traders can buy with a stop at Rs 430. — Lokeshwarri S. K.

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