Making a Decision to Take Some Profits
I have been heavily Investing in Stocks for quite some time now and even though I have taken little chunks of profits here and there in stocks that I invested just on a momentum basis I was yet to take profits from stocks that I believed in and am quite Bullish for them in the long run. But that ended today when I booked a profit of almost 30% on one of my favorite stocks TATA POWER.
What is TATA POWER?
Tata Power is the largest power generation company in India specializing in Renewable Power Sources. The core of this company is to produce and distribute Electricity but it has the TATA brand name and that means TRUST and they are also the leading players in EV's in India. So you can say that I am bullish on this Company because -
- It has the TATA Brand name that is Synonymous with TRUST.
- It has the largest penetration in EV Sector in India.
- It has huge farms of Solar Devices ready for deployment.
What you see above is the technical chart for TATA POWER and as you can see it rallied up quite a lot in the last 4 days and that including my early entry point gave me approximately 30% returns. But the thing with TATA POWER is that the price has rallied up just on speculation that the Company will do good in the future and I know that they will do good in the Future but that is still some ways to go so I just felt that this was the time to exit from this stock. I have also set a buy order at what I think the price may fall in the coming days and I hope to buy back in the stock at that time.
There is also a slight chance that this Stock just keeps on rallying and not stop at all and that would just be my fault in judgment but in the long run, I will be most definitely buying more stocks as this Company has some Solid future ahead of it.
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I still hold my stocks as some of them should do quite great also in harsh times. My bets are on Chevron which probably will make most of it from petrol increased prices and Tesla which will pump their electric cars and more. These are long-term investments for few years.
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