We had suggested going ‘Long’ on Tata Steel on November 14th when the stock had given a breakout at 362-363 odd levels; 2 trading sessions and the stock has gained an absolute 25 points giving us a fabulous return of 7% approx!! The stock closed at 387.70 on 18th Nov 2013.
However, we are still positive on the stock and would hold this stock for higher levels and more gains keeping a stop loss at a point wherein 17-18 points profit is locked i.e at 379 odd levels.
Return on Investment: If someone had traded 500 shares in this stock on November 14th, the absolute return on investment amount today would have been approx 13,000/-. That is just in 2 sessions! and of course, positions in futures are way ahead in returns!!
The strategy used in this trade was ‘Gap up breakout low risk strategy’ which has worked very well for us.
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