Buy Satyam Computers ( NSE: Satyam Comp)

Short-term sentiment: Bullish

Today US market gained more than 1.5% due to a better reading of US Economy, which grew 3.3% in 2^nd quarter, much higher than initial reading. Dollar also regained against major currencies, as crude-oil retreated from highs.

As per my technical analysis, Satyam Computers stock chart looks bullish in short term time period. The reasons are

• Market is making higher highs and higher lows, nearest low is seen at Rs.380
• Price is found support at lower trend line and closed above EMA (20)
• Major long term support seen at Rs.360 and Resistance at Rs.460
• RSI (14) is 50 which shows strength is strong

By keeping the above fundamental and technical reasons in mind, I think it is a good time to BUY Satyam Computers at Rs.406 with stop/loss just below Rs.380 for target one at Rs.425, target two at Rs.440 and above