I think @barathmukhi has answered the query in a very good and detailed way.
Coming to specific company schaeffler, 1800 was a technical target and once that was achieved, with the available information at that time it seemed fairly valued. Plus I had a couple of other ideas like Usha Martin etc which were more exciting to me. Hence the decision to exit. And if I see now (although one might consider looking at it in hindsight) I find that the stock price consolidated in and around 1800 for nearly 10 weeks before moving up again.
If you are following the techno funda approach and keep looking at charts, you will be presented with a lot of new opportunities off and on and hence the idea is to evaluate the new opportunities and try to compare them with the stocks you hold. And then its a toss up on where to be present. One approach I think could be useful is to book partial profits and let rest of the position run to maximise the gains. That is only a thought process currently and not put in action. The drawback I see with this approach is that I will land up with a lot more names in my portfolio than what I am comfortable with. But even with this drawback it seems this method has its benefits, but getting a mindset to adopt this strategy will take some time and a lot of fine tuning, and I am not too sure when or if that will happen. If someone can find it useful and implementable, then its worth doing.
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