Satyam Computers has done exceedingly well in the recent past. On Tuesday, it hit an all-time high of Rs 1,200 which is an extremely bullish signal and suggest that the run is likely to last long.The position of other indicators is also improving. The medium term RSI and MACD have also given a fresh buy signal. So is the case with volume chart. Overall, the outlook is positive.
One can take a long position at the current levels for good short-term gains. The stop loss less for long purchases should be exercised at Rs 1,135. Until the stock remain above this level, bull operators would have a strong hold on this counter.
-- Deepak Singh Tanwar
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.