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Satyam joined the rest of the IT pack in recording a sharp medium-term reversal last week. The strong post-result rally that could have propelled the stock towards its all-time high was beaten out of shape last week as the stock plummeted towards the lower boundary of its medium-term range at Rs 400. Breach of this support would take the stock to Rs 370.

The short-term outlook has turned negative in the stock. It will face resistance at Rs 450 and then Rs 465 in the week ahead. Fresh shorts can be initiated from trading with a stop at Rs 450. Investors can hold the stock as long as it remains above Rs 400.

— Lokeshwarri S. K.

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