Open Positions:
2) Onmobile shorted on 12th June @ 37.65, SL above 40.85. SL Hit. Exited @ 40.9. Loss = -8.63%]
We were stopped out of Onmobile shorts on 21st June with exit @ 40.9. After this, the stock hit a high of 41.3 (futures) on 27th June and hasnt broken that high till now. Today the stock closed at 29.85. We would have been sitting on profits of
21% instead of the 8.6% loss if only. What a difference 40 paise makes sometimes!
I especially point this out to newcomers in the stock market and to be prepared for this. Sometimes the market will just kiss your SL and then go in the direction you wanted it to go and sometimes it will narrowly miss your SL by a few ticks. I remember my Ajanta Pharma longs a couple of months back came dangerously close to being stopped out but didnt trigger. That stock gave a profit of
55%+. Of course, even if I was stopped out there I would still have re-entered and made a big chunk of that profit. But here in the case of Onmobile, there wasnt a comfortable re-entry. Now we move on to other stocks and look to re-enter Onmobile if the opportunity is right.