Patni Computers - Correction for the next rally

Though this is a stock I have normally avoided, the chart is something that was interesting.

• The stock had a month long wayward movement in the month of May. It finally broke on the downside and fell to 248 before it started its stellar movement. The stock again found this 345-375 range extremely difficult to break. It did break couple of weeks back before correcting back to this level. This time the stock is at a support point.
• MACD - is negative the bars have been on an ever increase in height.
  
• RSI has been falling and is in lines with its peers of Infosys, Wipro and TCS.
  

This stock has entered into a correction phase. It can fall back to 375. The only downside that I see in this stock is that profit making is quite difficult unless one is there in the stock before it rallies. The stock jumps quite quick. So, this is a stock that has the potential. Enter with caution and personally I would wait for a few more days before I take an exposure into this.