• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Satyam managed to hold the support at Rs 400 and moved towards Rs 440 as indicated last week. The zone around Rs 440 is a key resistance for the short-term since the 50-day moving average is present there and it is also the 38.2 per cent retracement (Fibonacci number) of the previous down move. Short-term traders can go short in this stock on a reversal from this level. The downward target would be Rs 400. But a move beyond this hurdle will take the stock to Rs 456 and then Rs 465.

The medium-term outlook for Satyam stays negative. We would have to revise this outlook only if the stock moved beyond Rs 465.

More Stories on : Technical Analysis | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
What gives gold its glitter

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line