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Satyam Computers moved lower and achieved the second target indicated in this column last week. This move corroborates the view that the stock continues to be in an intermediate-term downtrend. The 10-week ROC has moved deep in to the negative zone with lower peaks and troughs, indicating a negative medium-term outlook. This view will be altered only when the stock closes above Rs 480.

The near-term outlook has turned negative too. If Satyam trades below Rs 425 in the early part of next week, traders can play short with the downward targets at Rs 400 and the Rs 370. — Lokeshwarri S. K.

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