I have bought this stock at a price of 535 expecting the target 624. Now it is 501 as on 30 Jun. Should I hold or sell with loss?
Munchkunster
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@skpatracreation, you essentially bought the stock at its high point in the last few days..that's not a good risk reward..
retracement is expected after such an impulsive move from 360 to 540+ .. You will see the price going down for a few days but that is normal and healthy ..currently there are no signs that uptrend for this stock will reverse in the short term ..
Would not recommend selling now..maybe you can fix a price in your head for the maximum loss you can take on this..and sell if price goes below it..
aravindhnagul10
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It's going down shall I hold or book profits?
Munchkunster
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@aravindhnagul10, It is a minor pullback..It should recover.. Use SL 310-313
aravindhnagul10
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@samarthgupta1911, currently am in profits shall i book profits bought @280 or if goes down shall i average and wait for upmove?
i have a plan for investing in next two years, will you suggest holding it since ethanol is picking up thinking it will give a good reward
On your suggestion, now i am holding and currently in profits or i could sell off before. Thank you Samarthgupta for sharing your thoughts.
Munchkunster
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@aravindhnagul10, Good to know the idea worked for you ..
Minor retracement is expected for next big major move.. if you will notice the volumes on the declining days are much lower than avg.. That suggests that sellers are not interested in selling at this price.they are holding to sell at a higher price.. So my recommendation is to hold..