Go long in Mahindra Satyam: Sudarshan Sukhani

Mahindra Satyam is in a strong uptrend. It has a correction and a trading range. That trading range justifies going long, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I have woken up to Mahindra Satyam much later only when it crossed Rs 80 but that is okay. The buying opportunity comes because at Rs 105-110 there is strong support and the stock has been moving at that support zone for the last seven-eight days. Similarly Tech Mahindra was doing the same thing at Rs 950 and then finally held on to support. I assume Mahindra Satyam will do the same thing. It is in a strong uptrend, so we have a correction, a trading range. That trading range justifies going long. We will assume that the trend continues."
At 09:34 hrs Mahindra Satyam was quoting at Rs 113.75, down Rs 3, or 2.57 percent. It has touched an intraday high of Rs 115.75 and an intraday low of Rs 112. Disclosure: Sudarshan Sukhani has no holdings in the stock discussed.