TATACHEM : Booked a profit of 17.56% on the invested capital

7 mar

Yesterday, heavy trading volume was observed in the scrip, with approximately 18.01 lakh shares changing hands on the BSE. However, aside from this activity, there were no significant news or updates related to the sector or the stock. Neither the fundamentals, analysts' expectations, nor the shareholding pattern instilled enough confidence to justify holding onto the share at its current technically higher valuation. Therefore, I made the decision to book profits and move on.

As of writing this post, the price has rallied over 14% from the levels at which I booked profit. I was cognizant of the possibility of such a rally and understand that the price may continue to surge due to high momentum, regardless of the underlying reason. Nonetheless, I chose to adhere to my plan and abstain from participating in price movements that I cannot fully comprehend.

I'll consider a re-entry if the price experiences a significant drop to the low of the higher time frame channel. Otherwise, I will remain on the sidelines and await further clarity based on fundamentals and technical analysis.

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Other posts related to this particular position and scrip, if any, will be attached underneath. Do check those out too.

Disclaimer: The analysis shared here is for informational purposes only and should not be considered as financial advice. Trading in all markets carries inherent risks, and past performance is not indicative of future results. It's essential to conduct your own research and assess your risk tolerance before making any investment decisions. The views expressed in this analysis are solely mine. It's important to note that I am not a SEBI registered analyst, so the analysis provided does not constitute formal investment advice under SEBI regulations.