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Satyam drifted lower in the first half of last week before moving up sharply on Friday. The C-wave of the short term up-trend from the Rs 305 trough appears to be in motion now that has the immediate target of Rs 443 and then Rs 450. The intermediate term outlook will turn positive only when there is a strong close beyond Rs 450.

However, the stock could have formed a significant low at the January 22 trough at Rs 305 since the fall from Rs 525 to this trough has retraced almost 50 per cent of the bull-phase that is on since 2003. Long-term investors can hold the stock with a stop at Rs 300. Corrections to Rs 380 or Rs 350 can be used to accumulate the stocks.

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