When a stock reaches in a support level, "usually" some rich investors will come and buy in bulk quantity. Or some informed investors accumulated the stock. This is what happened yesterday.
The very next day retail investors, who are not watching the day`s price movement, come and sell resulting a fall in the share price. That is why when I asked Whity to buy at 22.60 gave the target of 25.80 to sell. Today it accompanied with the market fall and became more severe.
Anyway the fall in market is giving a huge chance to accumulate stock. Even though the support levels of 5640 and 5600 broken, I believe, the market will fly up in few days
Dear Whity, I hope you have utilised the buying opportunity below 23. If so, you got a selling opportunity in the second day itself!!! Wonderful, isn`t it?
Use the buying opportunities in other counters also(See my previous messages). Don`t sell the shares you bought at higher levels now. You may never get them back at these levels.
Dears, One or two buying levels already reached in all the stocks I mentioned earlier. Those who invested will get an opportunity to sell soon(1-2 months). Buy more if the stocks comes in the second and third levels. Medium term investors(15-18 months) can expect a minimum profit of 80%.
Market may find support at 5640 and shoot up soon by Diwali.
what is this averaging? Struck off this word from yr dictionary, if you want to survive in the market.
Every fresh buy should be made on its own merit, keeping the risk/reward ratio in mind. This decision should NOT be prejudiced by whether you already have this script in yr portfolio at a higher price or not.