The day lost but felt very happy for being able to read the market to the core. The opportunity early in the morning came to me and the best buying of Rel Infra at 429 low at 428.4.
I understood that the market is gaining momentum and the banks on the rise. I planned to buy HDFC back from the FO study and the stock available at 1139 and went up to 1240 level. I realized that the banking stocks are on the rise, ICICI was available at 254-255 level went upto 284 level.
I planned to buy Axis bank at 287 levels and went upto 306. The HDFC bank planned to buy at 798 level missed went up to 825 level. The beauty part of the day is that the United Spirits will cross the first at 556 levels available at 552 level go upto 591 levels.
I made a grave mistake of selling Reliance at 1137.55 got for covering at 1136 but waited to take the full advantage as the rise is nascent but the market did not allowed me to cover and go long as I thought the selling average will do. It went up to 1153.8 level I built a position of 225 shares covered at various staged with a loss of 113 later sold 35 shares at 1153-54 level to bring the loss to around four rupees. The tension mounted to the height while holding the position but managed well to my satisfaction.
The mistake I did was failed to sell 100 shares at 1155 level though my heart beats for the position but avoided for next as the tension carried became too heavy. It came to 1136 level from 1155. I sold 250 ICICI at 276.5 level came to 258 level but covered for 50 paisa profit. I will remember this day experience of position building and the method of trading in the markets with conviction along with TICKER LINE.
TOMORROW I WILL WRITE THE LESSONS FOR PRACTICE.
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