Some wise person once said Invest right & sit tight… Ashokleyland is a fundamentally strong company and the sales numbers this month are excellent. You can buy some more to reduce average cost price for this kind of stock. Or can sell far OTM calls to reduce your cost basis, but be a bit careful in selling calls if you own small quantity of shares. (They have reduced the lot size to 4000 this month onwards.) I am also stuck at similar price level as yours. Bought more stocks at these lower levels to average down the price and increased qty to 4000 and now Selling call with strike above average price to reduce costs safely.
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So what did you do with ASHOKLEY
I fail to understand why ppl say AshokLeyland is a good company. It has debts twice as much as its capital.If it doesn’t turn around then its burden is just going to increase more. It cannot be good long term at all unless there is a major strategy and new markets/directions aimed.
I bought more and averaged to 139…I thought it wouldn’t go down more but that’s not the case -_-
Ppl who were saying that it will go till 100-110 were right. But I didn’t believe them and now I can’t sell coz I think it’s not wise to sell in such a huge loss. I am damn sure it will go up but I could earn more profit.
Still I can’t understand that why this scrip is down despite of amazing result in comparison of last year.
I will hold for long term, I guess for 3-5 years.
Only thing I would say is dont average a lot, control your averaging until it stabilizes
Definitely dont average before 85-90 now if it goes down, some technical people suggesting 85 levels are bottom, not that it will come, but thats a safe bottom
Yes, you are right. I stopped averaging when it slipped below 118. Now I m just watching.
The 85 levels are near I hope so. Do you think accumulating now would be wise? Is there any fundamental change in the company apart from the CEO exit, I have been quite off from the news.
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Something to think about. Original article written by kirubakaran from Square off team
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There are some stocks which are highly overrated by analysts to push the prices up & this is one of them. The fair value for this stock is around 80 so start buying at/below this price.