SADBHAV and RNRL
Hi Ajay,
Thanks for those advices. Today, I did try your advice on SADBHAV (RNRL also) after losing some on my own decision. My preconceived decision was to sell as soon as the market opens as in the previous scrips I had followed I found that it falls immediately (in some cases it rises before falling). So, I was ready with the sell button and as soon as the market opened. I sold 50 at average 213.32 and it fell to around 205 within few seconds. But then it jumped back and continued rising. So as per your ideas, I went long at around 240. The script went up to 263 then came down a little. At 258, it was kind of stable and though it was above its open and average prices, I was wondering whether one should open fresh long position or not. What you would have done in that case? Again, it fell to 252. Now, I had placed my stop at 255 with limit of 254.95. As price moved down, my order was not triggered as limit was 254.95 whereas market price was 253. Then I changed the order to market and it was executed. Then the scrip was more or less stable before jumping to 267.
So, my question is that when the scrip is up substantially, above its open and average prices, what call should we take? By principals, it should be buy, but quite possibly that might be the day’s high and the scrip might just no go above that. (now as I had typed all this, price is 282). Take the case of RNRL. When it was around 23, it was above its open and average price, but if we had gone long, we would have suffered a loss since it was came down to 19 though still above its opening price of 17.5.a
Next thing is about stops. When SADBHAV was around 260, I placed stop at 255, but price fell below that level before going up. So, could you please suggest any better strategy to place stops.
I am attaching my order book, etc, for today. Please have a look and tell me where I went wrong.
I have been collecting intraday price chart of scrips on their listing day from NSE by taking a screen shot, but that is not much useful as things are hazy and we do not get bar chart. Do you know where from one can get better intraday charts.
Finally, thanks again for reading all the junk above and for your enduring support.
Thanks
Ravi S Ghosh