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Please suggest...ONGC

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Old 10th August 2008, 01:36 AM
 
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Please suggest...ONGC


hi!
i have sell ONGC at 1025 in F&O EXP 28 AUG. n crude rate constantly running down, so pls suggestme wether ONGC will fall below 1025 till 28 AUG or should i exit at this stage?

thnx with love!
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Old 20th August 2008, 11:34 AM
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Ongc explained


Date 08/20/08 time 10.31 pm

Hi Gap,
If u have shorteed ongc it is not bad, what is bad is that u have shorted it at a price which will give u a lot of pain in the days ahead. I say this because the markets r likely to give a rally in the comig days this will be the pain u will ahve to go through. Eventually towards the end of this series u will get a sell signal and then u can join in again, But it is currently ruling at 1060 and i dont think u will be able to see a price of 1025 in the next two days, that is today and tomorrow.
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Old 20th August 2008, 12:55 PM
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ONGC has to be booked.

Date 08/200/08 time 11.52 am

Hi Gap,
I think u will be better off squaring of your trade of 1025 short as the current price is going at 1040. I know the temptation to see r cost will be creeping in hard and fast. But believe me after 19 long years in the market i can tell u one thing confidently, if u have seen a loss because of a wrong decision ( U have done both). it is far better to accept a lesser loss and get out rather then being brave enough and feel like on top of the world.
They told me this as one of the first lessons in trading way back 19 years back. " U r nto a fool if u have done something foolish, ,but u r certainly one if the folly of it escapes u " There is a world of meaning in that line, that is if u can read between them.
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