I bought in stock market when people were selling | Indian Stocks to Make You a Millionaire
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I bought in stock market when people were selling

Posted By On 12:45 PM Under
1. I am so sorry for the readers who were trying to find this post and were getting an error page as I erroneously delelted the original post.

2. It is said that when there is blood on streets that is the right time to buy in the stocks and I used the opportunity to buy a quality stock for which I have referred in the financial blog of India a number of times and stock I bought was IDFC. I bought this stock on last Friday when there was mayhem on the Dallal street.

3. I was able to buy a large chunk of IDFC stock at the level of Rs 48 and was glad that it closed higher at the closing. However risk associated with the stock investment is that the stock can fall to the level of 10-15 percent and I will use the following strategy to accumulate more stocks and it is to buy 100 shares with every Rs 2 fall in the price of the stock. Evry day I will place a buy order in my online trading terminal at a price which will be RS 2 less than the last purchase price. If the order gets filled, it is good else I will repeat same process next day. So on Monday I will fill order for IDFC at limit order for Rs 46.1 (psychological advantage of getting order filled) and if this gets filled again I will place limit order at Rs 44.1 ansd will keep on doing till it finds its right bottom.

4. I have the right investment and am not worried as I have got a huge chink of VI pay commission arreas and I will be investing the amount as a fixed deposit for my children with a time avenue of 3-5 years.

5. I always regretted when in 2005 I could not buy this stock when it was trading at the levels of Rs 43 and I had recommended the said stock to my friends. Therafter stock moved from 43 levels to 250+ levels. Nonetheless I have got the opportunity to make good a lost opportunity. As a word of caution that investment be made as a long term investor as Rakesh Jhunjhunwala and Warren Buffet have made enough for a number of generations by long term investments only and perform this action with your own money and no borrowed money please.

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