As I had mentioned that TULSI EXTRUSIONS is for risk takers only. The script opened at 72 on Friday, reached a high of 74.70 and then tanked to 64. Some of got stuck in the script when it tanked. Good news is it is significantly up again today and almost touched 70.
As I had said many times before: Just follow 2 rules in the market:
a. Progressive buying - Buy in small quantities and if the stock is doing well, keep adding on...NEVER buy all that you can in one shot. Even the charter document mentions this.
b. The 2nd rule I always ask to be followed is to buy as close to the CALL price as possible, because my call price is a price, up to which the script will jump back after some time, even if it falls. This is mentioned in our charter document too and this actually happened with TULSI and it almost touched 70 today.
- Those who had followed both rules, book profits and move out of the script.
- Those who had followed just the 2nd rule, start squaring your positions little by little, reducing exposure. You may reduce 30-50% near 70 and hold the rest for 74, which may be reachedif the market behaves strongly this week.
On Fri, Sep 24, 2010 at 8:38 AM, POWERFULPICKS POWERFULPICKS <powerfulpicks@gmail.com> wrote:
powerfulpicks short term call: Buy Tulsi Extrusions (NSE: TULSI) at 70-71 for a short term 3 month target of 84 (+18%).Note:- For risk takers only, not for persons who want to play more safely.
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