Satyam Computer is vibrating once again. The scrip had gone down to Rs 1198 and appears to have made a U turn. It has come back to Rs 1278. The stochastic indicator on the daily chart has signalled a buy and has indicated a potential for moving up.The counter saw Rs 224 crore turnover on Tuesday. Wednesday's volume are lower at Rs 145 crore. Interest appears to have returned to software scrips. This is understandable. Other core sector scrips have reached a peak and are attracting profit booking.
On the other hand, software scrips have been moving south and have now become a good vehicle to ride up. Infosys, too, has moved up and NIIT has stabilised. Given the volatile nature of other scrips, Satyam and other software scrips like Pentafour give a good opportunity.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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