Three rode a roller coaster this week, particularly TechM.
And yes, Tata steel did more than survive, 27% up this week, after all it has some quality stuff.. Sure does Hindalco! Yet, I couldn't convince myself to divest TechM.. and here is the proof...almost 8% up today.
Though, I didn't get much out of the rise, I did protect my previous earnings.. The swing in TechM was so wide with a span of Rs.100 this week, owe it to the rupee slumber. TechM is my long, and I didn't want to book my profit now, so I did hedged trading this week. Maintained intraday shorts till today and held my longs firmly. I burnt myself badly yesterday. My predictions went wrong and my shorts got hit.
Held on to my longs today without intraday hedging, and that worked!! If it didn't I would have earned only for my broker and none for me!
And now, TechM is clearly in an unchartered territory, closed @ 1271.90, with a pending buy order at 1266.. and that was a 52 week high!! So, I may resume my hedging on monday after 11 AM.
I'll watch out TechM movements, and may sell 30% of my TechM holdings if the price crosses 1450.. Tata Steel is sure in the pipeline, and if there is a dip, will surely jump in.. and I am gonna sit on the fence of Banking Sector..SBI looks attractive below 1530..Let's see!
