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Satyam’s attempt at moving higher was thwarted by the long-term 200-day moving average line positioned at Rs 455. The immediate support for the stock is at Rs 440. Reversal from here can make the stock rise higher towards the intermediate term resistance at Rs 478. The intermediate term outlook for the stock will stay negative as long as it fails to close firmly above this level.

The near-term outlook is neutral and trading could be difficult while the stock is stuck in the island between the two long-term moving averages. Wait for a break-out below Rs 440 before playing short. The stock could then move lower to Rs 433 or Rs 426. — Lokeshwarri S. K.

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