Exit Satyam at Rs 120-122: Mitesh Thacker

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Mahindra Satyam See messages about Mahindra Satyam Mahindra Satyam BSE | NSE 09/02/12 Are Mutual Funds betting on Mahindra Satyam?

Technical Analyst, Mitesh Thacker of Miteshthacker.com is of the view that one should exit Satyam Computer Services at Rs 120-122.

 

Thacker told CNBC-TV18, "I have been tracking Satyam. Last time, we discussed that above Rs 91-92 the stock can probably test its 200 day moving average which is around Rs 122-123. We maintain the upside target clearly I think this move above Rs 92 which was the critical resistance for the stock is now well established and with the kind of movement which we have seen today clearly a breakout indicating and confirming our view that probably this stock will soon test its 200 DMA. So I think Rs 120-122 would be the level where I would look to get out of this stock."

 

Disclosure: It is safe to assume that analyst and his clients may have investment interest in the stocks/sectors discussed.