Day Four review - Wednesday, 5th June 2013

So today I gave out a few calls that I thought was worth trading. There are a few stocks that I stick to most of the time, if you're good at it then why not strengthen it further right? But I did try my hand at a stock that I wasn't too comfortable trading in and it showed that I need to hone my skills further before I go exploring.

JSW Steel is a stock that I used to follow a few years ago but it just seems to be moving in a slightly different pattern lately. I guess older investors have paved way for newer ones whose mentality I am yet to grasp. Anyway lets look at the what happened to my predictions today:

1. Buy DLF, Entry: 192. Target: 197.5. Stop Loss: 190. 

DLF

I think I have the movement of DLF mapped out quite well. At the very least I can predict the direction in which it moves on a day to day basis. DLF touched a day high of 200.4 today. Target achieved. 

2. Buy ONGC, Entry: 316. Target 325. Stop Loss: 313.

ONGC

I was slightly off the entry point with ONGC today, it made a day low of 317 and went up to a day high of 325.25. Just like DLF, I'm very comfortable with trading in ONGC and it's safe to say that I can almost predict the exact movements of it almost everyday. Although it didn't hit the entry point, it definitely hit the target spot on. Target achieved.

3. Sell JSW Steel, Entry 720-725. Target 700. Stop Loss: 730. 

JSW Steel

As I mentioned earlier JSW Steel is a new stock that I'm entering into and I might need a little more time to figure out it's movements. Unfortunately the stop loss triggered today, resulting in a loss for the second time since I started this blog. Stop Loss triggered. 

I've been doing well with my predictions so far. I've given out 10 calls out of which 2 were disqualified and 2 have had their stop loss triggered. That brings my prediction rating to 6/8 or 3/4, which is still pretty good in my opinion. Let's hope things get even better in the future :)