SEBI has introduced something called ASM in the market and put 2-3 dozen stocks in that group. You cannot buy these stocks with margin money. This has led to a sell-off in certain stocks like BEPL, HEG, Venkys etc. I was waiting for a correction like this but since I am already holding HEG, decided to add more at dips. I sold Ashok Leyland and ACE shares at a total loss of Rs. 9000 and invested Rs. 2 lakh in HEG. I am holding Rs. 1.8 lakhs to buy more shares. I think this might touch 2700-2800 price and I will buy remaining shares then. I am expecting HEG to touch 4000 price after the rally. This can help me recover all my losses within 2-3 months time. Although I will be booking profits once it touches 4,000 mark. I could gain Rs. 700-800 per share within 2 months time. Not being greedy but this could turn out to be an excellent opportunity.
Changes Made :
- Exited from Ashok Leyland and ACE booking a loss of Rs. 9,000.
- Bought 80 more HEG and holding Rs. 180,000 in cash to buy more HEG.
Current Portfolio :
224 shares of HEG at price of Rs. 3390, and Rs. 1.8 lakh in cash.