3 days back I have posted about Wrong Trade Executed where I have bought shares which was listed on that day. After buying the stock has gone down by over 20% but in last 3 days the stock has given good returns and now my trade has become positive.
I also said that the company is growing year to year. Along with that it's PE is less than it's peers. So that means the stock might get doubled from its current price. The stock has gone up by 20% yeaterday and close to 8% today and since I was down by 20% 3 days back is now in profit of 15%.
To be honest I didn't expected that the shares would go up this fast. I knew it will go up but this move was unexpected. I am still thinking that the stock would go up further and it will touch the 2K mark in some months. I am not a expert in stock market but this trade went well. I know the price of investment is quite low, but still it's good to come out positive rather than negative.
I am a conservative investor and that's why I do small investment and try to play safe. Most of my trades are small so that even if I lose, I will not lose much. Yeah the profit margin could be higher but again the risk would increase which I am not so comfortable with.
To be honest, If I would have got the IPO, I would have sold on that day itself. But now I have that confidence to keep it little further and hope to see it to gain more. Hopefully in future also we can get some of the stocks like this to play with.
