STOCK MARKET MYTHS - There are many misconceptions people have about how stock market works and how it actually works. In this series we burst these myths or clear misconceptions so people can make wiser decisions in trading/investing.
Myth Number 1- A stock will go up after good result.
Reality - A stock may fall big even after very good results. Taking decision based on this information give you no edge and you will loose over long term. Big market picture is always given highest priority and buying/selling decision should be taken on this.
Example - AXIS BANK, declared results on 26th October, highest ever quarterly profit. Next day - instead of up move fall of 6%.
I too had this misconception earlier so please comment if you too thought same now or at some point of time. :)
Bro i am stuck at 847 levels did same mistake do u think any chance to recovee my cost in 3 months
NaveenGr
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@harmanimpexllp, this is my analysis of Axis bank shared on 5th Nov -
Axis Bank is a weak stock and no buying should be done at current levels as of now. If you are holding in cash market then wait for some time to exit around 840 levels when Nifty tests 18600. If you are holding CE then i would suggest you to exit on any up move you may get next week, options have time value associated with them, both time and movement is against you.