Thursday, August 26, 2010
PATNI COMPUTER SYSTEMS (#NSE PATNI) – in a resistance zone
Aug 25, 2010: Found support at 440, and made a sharp up-move to 540 supported by the interim dividend announcement. It's in a resistance zone now, and if it can surive this zone, then it can move up to 640. Much sepends on what investors do after the September 1ex-dividend date.
Aug 12, 2010: Patni drifted down to 440, which completed the ABC down move. Today, it moved up at very high volume and signifies the end of the down move.
Aug 1, 2010: Patni witnessed a selling climax on poorer than expected results. Expect the stock to drift down to the 450 level where this is support. It has had a beautiful run from March 2009. Hopefully this is a one quarter thingy, will be a good intermediate-term pick at 450.
Labels: PATNI
by earlygains at Thursday, August 26, 2010 |
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