Satyam a risky call to take at this moment: Sameer Shetye, AK Stockmart

Sameer Shetye, Derivatives & Technical Analyst, AK Stockmart, in a chat with ET Now talks about Satyam.

Talking about Satyam, some fundamental analysts are saying that Rs 120 a share is something that can be achieved. It is creating a base of about Rs 80 a share right now. What do you make of that?

Satyam has been trading in a pretty erratic manner. Ccommenting on the stock on a technical basis becomes very difficult in such situations. But then I think that looking at a entire big crack from Rs 120 levels to Rs 80 levels or thereabouts, Satyam tried to retrace and come above at 61.8 retracement level which is 104 but then was not able to sustain that level and this caused heavy selling.

So what I can make out from the available data is that if it trades about 95 levels and stabilizes around those levels for a while, I may expect some upside initially 104 and post that 120. But then it’s a very risky call to take at this particular moment.