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Satyam Computers registered a 10 per cent loss last week and the near-term outlook has now turned explicitly negative due to the fall below Rs 400 on Wednesday. The weekly momentum indicators are moving sideways over the past year indicating that the stock is in a long term consolidation phase between Rs 300 and Rs 500. Needless to add, that long-term investors should accumulate near the lower end of the band.

The stock could attempt to move higher to Rs 400 or Rs 412 next week. Reversal below the first target would be the apt juncture to initiate fresh short positions. Bulls can watch for buying opportunity at Rs 330 or Rs 300.

— Lokeshwarri S. K.

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