Struggle to make money from stocks: India Stock Market Update 08 May 2007

Struggle to make money from stocks

Been through many crashes in the Indian market (Crash in September 2005, crash in May 2006, crash in Feb-March 2007, the bad crash starting in January 2008, the current 2018 midcap and smallcap downturn). Still looking for the magic touch that will turn my money into the first 10 million. Any tips that I post will typically not be mine, but picked up from somewhere (hopefully with some accuracy), hence have fun if you make money; if you lose, then that is the name of the equity game.

Tuesday, May 08, 2007

India Stock Market Update 08 May 2007

Another day, another bout of volatility. It is such days that end up really sapping the will to keep invested in the market. I started out watching the morning sensex being slightly down, and then it rallied to move higher. The sensex stayed higher most of the day, and then profit selling happened again. The stocks that I had seen moving higher started dipping, and I started the day at a point lower than I started the day.
Do I still continue in the market, yes. I believe that the market is taking some time to gather momentum, and should shoot up. However, everywhere I read, the same articles - May is the month when people are away from the stock market, May is the month when everything crashes. Makes a person half want to believe all this and stay away.
The only change I make is that I watch the market more time per day, something that is not advisable. After all, we have other work to do, and unless a person is full time into the market, this is definitely not a good idea.
Stocks that I am currently tracking:
1. Hikal Chemical Industries: Rs. 409
2. Asian Oil Fields: Rs. 61
3. Indiabull Real Estate: Rs. 352 (risky)
4. Avery India: Rs. 58
5. Adhunik Metalics: Rs. 47

Labels: Equity, India, Stock