Harshad Mehta 1992 Scam Story Witness Story

[Sanjay Barve]

Has anyone from our forum members experienced Harshad Mehta's era of Bull vs Bear scenario?
- I request if any of our members have experienced that time then do share your experience and scenario of that time.

It would be interesting for us to know about it in a candid way.

 

[Vmaster369]

sure i have ....
just a month ago i had hdfcbank futures at 1040
i was not smart i sold it at 1064
results came out and then in less then 4 weeks share went and created a new 52 week high 1400

what idiots trader like me made 24R.s
what ppls like Mehta and Banks made ? 350 R.s

it was a bull run and all shot sellers were killed and it;s not easy to move share liek hdfc bank where cap is 6 lakhs crores. so yeah
it;s mafat ka maal of banks or FII ( printed money ) that is moving shares

and while this all things were happening i was remembering Harsad bhai na raj ma market majama lol

 

[Vmaster369]

Another true story ia m tell ya

I bought Route mobile EQ at 940
next day it was 900
and for 1 week it stayed below 940...

after 1 week it got 970 i sold delivery shares and then went double qty short in intraday at 970. share price came down 963 i bought back
all intra day shorted shares Further share price fell and closed to 945.30 date is 19th 11 2020

this time i didn;t buy it hoping it will open low tomorrow.

Then today on 20/11/2020
Share opened @ 950 and that was todays low 950

then share price went again 972 i today shortselled about 1800 QTY @972
within less then 15 min share was 967 .. i had a buy order at 966

My brother was calling me for soem home work and was repeatly calling so i decided to close position and
i modified order and squareoff at 967 paying R.s 1 extra.

after i came back i saw price as in UP FREEZ 992.55
even at 3:00 and 3:15 pm share price was still 992.55 with only BUYER no SELLER
and even broker terminal broke at 3:11 yup (Finvasia too was down from 3:11 pm today till 3:31 pm)

so who ever shortsold will not be able to buy back and there shares will go in AUCTION where they have to buy share at 20% higher price
so if my bother had not called me and i didn;t square off position then PENELTY AUCTION ( 1800 * 20% price 199 )
so 1191 be Price in auction
NET LOSS OF 358000 be it

Today Lord Venus good grace was with me I was saved . but that could have been me .

why all this began ? coz soem FII probably gold man decided to buy 3-4 lakhs share and keep share in up free till end of trading hours .

since you already wasted your 2 min reading my this experience what did you learn from this ?

i am not going to get share back at 945 am i ? unless and untill nifty falls .

 

[travi]

Another true story ia m tell ya

I bought Route mobile EQ at 940
next day it was 900
and for 1 week it stayed below 940...

after 1 week it got 970 i sold delivery shares and then went double qty short in intraday at 970. share price came down 963 i bought back
all intra day shorted shares Further share price fell and closed to 945.30 date is 19th 11 2020

this time i didn;t buy it hoping it will open low tomorrow.

Then today on 20/11/2020
Share opened @ 950 and that was todays low 950

then share price went again 972 i today shortselled about 1800 QTY @972
within less then 15 min share was 967 .. i had a buy order at 966

My brother was calling me for soem home work and was repeatly calling so i decided to close position and
i modified order and squareoff at 967 paying R.s 1 extra.

after i came back i saw price as in UP FREEZ 992.55
even at 3:00 and 3:15 pm share price was still 992.55 with only BUYER no SELLER
and even broker terminal broke at 3:11 yup (Finvasia too was down from 3:11 pm today till 3:31 pm)

so who ever shortsold will not be able to buy back and there shares will go in AUCTION where they have to buy share at 20% higher price
so if my bother had not called me and i didn;t square off position then PENELTY AUCTION ( 1800 * 20% price 199 )
so 1191 be Price in auction
NET LOSS OF 358000 be it

Today Lord Venus good grace was with me I was saved . but that could have been me .

why all this began ? coz soem FII probably gold man decided to buy 3-4 lakhs share and keep share in up free till end of trading hours .

since you already wasted your 2 min reading my this experience what did you learn from this ?

i am not going to get share back at 945 am i ? unless and untill nifty falls .

Bhai, my friend got stuck in Glenmark when it went up 20% few months ago.

Anyway, what did you learn part ? Just always use SLs.
SLs are under-rated, if you think there is SL hunting, if short, put it shy of Circuit.

If you ever plan to trade with SLs, keep safety just before ckt atleast.

 

[Vmaster369]

Sl don;t work when scripts hit Up freeze and even if it would have worked then price would be close to freeze price

1.Moral of story is Don;t short sell become value investor .
2.Don;t go short on company that is New Scripts
invest in good company for 3-5 yrs and double your net worth that how Winners are made riskfree.

 

[Vmaster369]

Another example of Mehta story alike is this share
poor fundamental no one wanted for R.s 150 lol now 1200 price
Look at graph and look at fundamental
who are idiots putting 1 lakhs crores in corona period in this Faltu share

https://trendlyne.com/equity/93115/ADANIGREEN/adani-green-energy-ltd/