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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO -- Ignore unavailable to you. Want to Upgrade?

To: Nanda who wrote (1789)	6/15/1998 1:38:00 PM
From: R. Bond	Read Replies (1) \| Respond to of 2761

Nanda, Technically SYNT is looking quite weak. A close below 21 3/4 today (the present bid) would look very bad indeed and reconfirm a downtrend in motion by making a new, lower low, out of the recent trading range and establishing itself below the 1/3 speed resistance line (which it has used as support recently & at the end of Jan.). Next support at 19 & 16 below this. SYNT has already retraced just over 50% of it's move up from under $6. How does this fit in with your views on SYNT? Cheers, Bond