Avoid Mahindra Satyam: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now, speaks about Mahindra Satyam.

Would you buy into Mahindra Satyam or would you stay out because of the results that have come out?

I would stay out of Mahindra Satyam. The stock was selling at 78-79 and it needed to get past for that bullish move. It was poised for one but it has changed its mind. We have moved too far down from 78 now to see that breakout happening in a hurry. It is about Re 1-1.5 from where it fell. Best case scenario now would be some consolidation here and then a resumption of the move. If that happens, it may be worth looking at again but the market has clearly not liked Mahindra Satyam's result.