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Rakesh Jhunjhunwala is considered to be the greatest investor in Indian Market. He is supposed to have made Rs 5000 crores by just investing Rs 5000 in Indian Stock Market. Rakesh Jhunjhunwala guru mantra to be successful in stock market is as enumerated below:
(a) He advises people to become interested in a stock when none is interested in the same stock. As per him BUY RIGHT & HOLD TIGHT for years to come. He has been holding few stocks for last 10 years and he is still minting money from those stocks.
(b) He further advises that one should not follow big investors blindly as their risk profile and long term goals with time frame may be difficult to be followed by retail investor.
(c) Market is supreme and every thing is reflected in the price and thus their is no point in fighting the trend as market is always right.
(d) One should be able to create a balance between the fear and greed.
(e) As per his words one has to learn the stock market trading as none can teach the market as stock market experience is the best teacher.
Thus follow Rakesh Jhunjhunwala advice in stock market, BE PATIENT and grow big like Warren Buffet or this iconic man from Dalaal Street.
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Resistance 2 Rs 818.6Resistance1 Rs 783.5Pivot Number Rs 769.3Support1 Rs 734.2Suppport2 Rs 720How to trade the stock
As the market open, donot trade for first 5-10 minutes. Monitor the trend of the stock price. If the trend is positively above Rs 769.3, then buy the stock as it will most likely reach Rs 783.5. Stoploss should be Rs 769.3 and you may consider booking profit close to Rs 780- Rs 782. (At this point if the trend reverses downwards i.e. after touching the Resistance 1, sell your shares and short sell the same amount with a stoploss of Rs 780.) In case it still continues its march upwards towards Resistance 2, again buy for a target price close to Rs 818 but stoploss should now be close to Rs 780.
Do the same thing in oppposite way if the trend of the stock price is downwards after 5-10 minutes of market opening. That means if the trend is positively downwards the shortsell with a stoploss of Rs 770. As it reaches the Support 1 then cover your short and again buy/short sell depending upon the trend of the chart for stock price.
HAPPY TRADING
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DISCLAIMER
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.
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1 comments:
Excellent informative blog post...Great amazing information
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