July Portfolio Update: Allocation in line with target for Growth, Stalwarts & Cyclical classification discussed in first few posts. Cash waiting to be allocated to Special Situations or Growth Stocks. Number of Stocks (29) still high.
Exits & Rationale
PI Industries:
Fundamental weakness in Chemical & Agro stocks. PI also broke below its support at 3670 & 50 DMA. RSI declining. Bearish engulfing candle in week-1 of July in weekly chart.
Note: PI remains a superior business and holds a special place amongst my ex-stocks as it has been a 5 Bagger for me (avg Purchase Price of 675 since 2015-17. I look forward to entering it again at lower levels 
ITC: ITC has been on a dream run since Feb-22 and has grown 2.5x from 200 to ~500 levels. Demerger announcement of its Hotels business triggered a steep fall in last week of July. It was only 2% of my PF (despite holding it ~150 level) and exiting it is part of my conscious decision to move to a concentrated PF.
LSIL: This was a purely techno-funda bet that panned out well. Cup and Handle formation on daily chart with High Volume on up days and Low Volume on down days. There was a BO with good volume in 1st week of June followed by a retest as per textbooks, before ~40% jump in 2 week. Sold anticipating a correction, while the stock ended up moving sideways for 2 weeks before firing up by 10% again !
Rest of exits (BigBloc, HCG, UltraTech, MSumi) were each ~1% of PF and insignificant.
Addition to existing position: DCX, KPIT Tech, KEI.
New Additions: Talbros, Karur Vysya, Agarwal Industrial.
Disclaimer: My posts are not recommendations to Buy, Hold or Sell. DYOR.
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