A plunge in Indian Stock market
- Thread starter sspms2002
- Start date
Today was a learning day for me again..Market made me jitter with fear...
I today for a change took a premarket position in TATA Motors for 200 Long at 574..
I had taken such a bold move because of a news in TATA Motors that it may foray into defence vehicles and other things related to Defence sector and thus will have high profits..
The stock went a little up and started going down..i initially was ok to let it go below my price , but then i realized that there is heavy selling pressure..and stock was not at all halting...
It started gong down and when it took rest for some time at 565 i added 200 more...but it started its down move again and went till 560..i was seeing an open P&L of -4000...
I was now in a situation where i either book the entire loss or wait for at least one pull back...I waited for some more time..
But i could realize that stock had moved to such a price where any retail player would have exited out of fear..
It started it journey up..i cleared my first 200 shares at 565 and next one at 568..I was still in loss of around 1800...
after the stock held for some time at 567 it started up again i just played with 200 shares now and cleared with a profit of around 1000.
Net Loss of 800 was pending..I left watching TATA motors then as i though this loss of rs 800 i can recover in any other stock and i didnot had trust of TATA Motors to go up more...
I took some profit in RELCAP to come to neutral range...
then later i realized that TATA Motors is still running up and making new highs.. I had never till now seen such drastic moves in any stock in my short trading history....
I made some more profit in a few other stocks and at the end of the day i took 200 shares of it for delivery..
Stocks Traded: TATA Motors , TATA SPONGE , AIRTEL , RELCAP
P&L : Green 602 after commissons.
Open P&L : - 200 in TATA Motors , LONG 200 at 584 for delivery.
Mistakes: My belief that if we cut short our losses , profits are easy to make is getting reinforced again and again...
I today for a change took a premarket position in TATA Motors for 200 Long at 574..
I had taken such a bold move because of a news in TATA Motors that it may foray into defence vehicles and other things related to Defence sector and thus will have high profits..
The stock went a little up and started going down..i initially was ok to let it go below my price , but then i realized that there is heavy selling pressure..and stock was not at all halting...
It started gong down and when it took rest for some time at 565 i added 200 more...but it started its down move again and went till 560..i was seeing an open P&L of -4000...
I was now in a situation where i either book the entire loss or wait for at least one pull back...I waited for some more time..
But i could realize that stock had moved to such a price where any retail player would have exited out of fear..
It started it journey up..i cleared my first 200 shares at 565 and next one at 568..I was still in loss of around 1800...
after the stock held for some time at 567 it started up again i just played with 200 shares now and cleared with a profit of around 1000.
Net Loss of 800 was pending..I left watching TATA motors then as i though this loss of rs 800 i can recover in any other stock and i didnot had trust of TATA Motors to go up more...
I took some profit in RELCAP to come to neutral range...
then later i realized that TATA Motors is still running up and making new highs.. I had never till now seen such drastic moves in any stock in my short trading history....
I made some more profit in a few other stocks and at the end of the day i took 200 shares of it for delivery..
Stocks Traded: TATA Motors , TATA SPONGE , AIRTEL , RELCAP
P&L : Green 602 after commissons.
Open P&L : - 200 in TATA Motors , LONG 200 at 584 for delivery.
Mistakes: My belief that if we cut short our losses , profits are easy to make is getting reinforced again and again...
Today was a learning day for me again..Market made me jitter with fear...
I today for a change took a premarket position in TATA Motors for 200 Long at 574..
I had taken such a bold move because of a news in TATA Motors that it may foray into defence vehicles and other things related to Defence sector and thus will have high profits..
The stock went a little up and started going down..i initially was ok to let it go below my price , but then i realized that there is heavy selling pressure..and stock was not at all halting...
It started gong down and when it took rest for some time at 565 i added 200 more...but it started its down move again and went till 560..i was seeing an open P&L of -4000...
I was now in a situation where i either book the entire loss or wait for at least one pull back...I waited for some more time..
But i could realize that stock had moved to such a price where any retail player would have exited out of fear..
It started it journey up..i cleared my first 200 shares at 565 and next one at 568..I was still in loss of around 1800...
after the stock held for some time at 567 it started up again i just played with 200 shares now and cleared with a profit of around 1000.
Net Loss of 800 was pending..I left watching TATA motors then as i though this loss of rs 800 i can recover in any other stock and i didnot had trust of TATA Motors to go up more...
I took some profit in RELCAP to come to neutral range...
then later i realized that TATA Motors is still running up and making new highs.. I had never till now seen such drastic moves in any stock in my short trading history....
I made some more profit in a few other stocks and at the end of the day i took 200 shares of it for delivery..
Stocks Traded: TATA Motors , TATA SPONGE , AIRTEL , RELCAP
P&L : Green 602 after commissons.
Open P&L : - 200 in TATA Motors , LONG 200 at 584 for delivery.
Mistakes: My belief that if we cut short our losses , profits are easy to make is getting reinforced again and again...
I today for a change took a premarket position in TATA Motors for 200 Long at 574..
I had taken such a bold move because of a news in TATA Motors that it may foray into defence vehicles and other things related to Defence sector and thus will have high profits..
The stock went a little up and started going down..i initially was ok to let it go below my price , but then i realized that there is heavy selling pressure..and stock was not at all halting...
It started gong down and when it took rest for some time at 565 i added 200 more...but it started its down move again and went till 560..i was seeing an open P&L of -4000...
I was now in a situation where i either book the entire loss or wait for at least one pull back...I waited for some more time..
But i could realize that stock had moved to such a price where any retail player would have exited out of fear..
It started it journey up..i cleared my first 200 shares at 565 and next one at 568..I was still in loss of around 1800...
after the stock held for some time at 567 it started up again i just played with 200 shares now and cleared with a profit of around 1000.
Net Loss of 800 was pending..I left watching TATA motors then as i though this loss of rs 800 i can recover in any other stock and i didnot had trust of TATA Motors to go up more...
I took some profit in RELCAP to come to neutral range...
then later i realized that TATA Motors is still running up and making new highs.. I had never till now seen such drastic moves in any stock in my short trading history....
I made some more profit in a few other stocks and at the end of the day i took 200 shares of it for delivery..
Stocks Traded: TATA Motors , TATA SPONGE , AIRTEL , RELCAP
P&L : Green 602 after commissons.
Open P&L : - 200 in TATA Motors , LONG 200 at 584 for delivery.
Mistakes: My belief that if we cut short our losses , profits are easy to make is getting reinforced again and again...
5 min Chart of TataMotors.
Suggest you look at Intraday charts,if you are trading with big lots.You are averaging down in a falling stock.Bounce off 565 levels non stop to 582
5 min Chart of TataMotors.
5 min Chart of TataMotors.
But my initial position has marred my mindset to just recoup losses first..
On a 5 Min chart it looks like a good move.....