Mirc Electornics: Analysis
Mirc Electornics or better known as ONIDA is another momentum stock, which i had purchased about month back for Rs. 32.
Brought it after news article on potential Private Equity placement in the company, with target of Rs. 45 short term (2 months) and Rs. 70 in long term (6 months).
It had jumped to Rs. 40+ levels in last couple of sessions, after which it started its backward journey of hitting continuous lower circuits.
Learning: Failure to implement Rule#1 : Skim the Milk.
Result: Back to square 1, No profit no Loss
Strategy: Has resistance at Rs. 40 levels. Will Sell at Rs. 40+.
Brought it after news article on potential Private Equity placement in the company, with target of Rs. 45 short term (2 months) and Rs. 70 in long term (6 months).
It had jumped to Rs. 40+ levels in last couple of sessions, after which it started its backward journey of hitting continuous lower circuits.
Learning: Failure to implement Rule#1 : Skim the Milk.
Result: Back to square 1, No profit no Loss
Strategy: Has resistance at Rs. 40 levels. Will Sell at Rs. 40+.
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