Sell Mahindra Satyam around Rs 94: Baliga

Ambareesh Baliga, COO, Way2Wealth advice traders to sell Mahindra Satyam around Rs 94.

Baliga told CNBC-TV18, “Mahindra Satyam, not much of an upside from here because we have seen in the past closed to a year and half that this stock technically finds it very difficult to cross those levels of Rs 90-95 and it is close to that.”
He further added, “The overall view on IT is as such is not too positive, clearly billing pressure is there as far as the sector is concerned overall. So the way I see it is possibly because of these results, it can rally to levels of about Rs 93-94 beyond that would be difficult. So should be a time to sell at those levels.”
"For Coal India it was a bit of a negative news because of which we have seen that cut in the past few days but then we should remember that the coal prices keep moving northwards year on year. So, this could be a temporary negative for Coal India and I would surely look at buying it closer to Rs 335 or so."