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Satyam Computers moved beyond the resistance at Rs 424 to record an intra week peak at Rs 435. This appears to be the third leg of the short-term up trend that commenced on March 18. The stock can now move lower to Rs 405 or Rs 396. Short-term traders can initiate longs if the stock holds above the first support. Resistance levels for the week are at Rs 437 and then Rs 455.

As indicated last week, Satyam Computers is likely to remain in the range between Rs 300 and Rs 500 over the medium-term. The weekly oscillators that are meandering sideways since October 2007 corroborate this ambivalent view. — Lokeshwarri S. K.

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