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Satyam put up a disappointing show last week. It failed to move past the resistance band between Rs 455 and Rs 460. The reversal from this band was vicious; pulling the stock back to its long-term support at Rs 400. This support has been tested four times in the last five months. But lower peaks being recorded in the stock are a negative signal and it seems a matter of time before Satyam moves lower towards the long-term support at Rs 370.

Resistances for the week ahead are Rs 427 and then Rs 437. Reversal from either of these levels will be a cue for traders to play short on this counter with a stop at Rs 460. — Lokeshwarri S.K.

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