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Though Satyam Computer moved slightly beyond our medium term range between Rs 400 and Rs 470 last week, the nasty tumble that followed proves that the stock is yet to launch in to a sustainable up trend.

The immediate support for the stock is present at Rs 435. A fall below this level will make Satyam head back towards its previous low at Rs 400.

The resistance in the week ahead would be at Rs 453 and then Rs 463. Reversal from either of these levels would be a cue for traders to initiate fresh short positions. Investors should wait on the sidelines for buying opportunity as the stock near the long-term support around Rs 400.

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