Indian stock market is currently in an excellent position. People who have been staying invested long term can book their profits in some of the stocks. It has been more than 5 years since I traded on the Indian stock market. Ever since I moved to Crypto, I stopped doing frequent trades and the strategy is more towards staying invested and booking some profits after a few years. I did not quit completely from the stock market. I was staying invested in some of the stocks which has done well.
One of the most awaited stocks was Suzlon Energy. There was a huge expectation of this stock back then. I still remember the price of stock going as low as 3 Rs per stock. I bought it for around 7 Rupees and when the price was not moving and it was stagnated for years, I decided to sell off my holdings and focus on other stocks. Today I'm able to realize how bad that decision was. I had bought more than 3000 stocks back then for a huge amount of money. Since it was a very small stock buying a lot of stock was not a huge amount. I was staying invested for more than a year and then sold them back on the bought price itself. It was both not a profit as well as a loss for me.
Today I'm comparing the price of the stock with what it used to be back then. The value has increased almost 7 to 10 times than the old price. If I had bought the stock for 3 Rs back then, today the price is over 45 Rs. It is expected that the stock would go even further. Back then they said that this was one of the stocks that cleared all its debts within a very short time and also had signed up many projects but then there was no movement in the price and that's what worried me and I wanted to quit from that stock. I should have held at least a few stocks but sometimes it makes me feel that having a few stocks is not very helpful. If we have to hit a jackpot quantity is also very important. Imagine if I had around 10k Suzlon stocks and the value it would have been now. Even if I pay 10% for the government taxes, the outcome is awesome.
It is believed that in the last year, the price of the stock has grown by about 550 percent from its 52-week low value which was around 7 Rs last year. In the last 5 years, there was no big growth but there were many people still hanging on to it. Today after seeing the price of the stock, people are not booking their profits, they are saying that Suzlon is just getting started it has recently entered the mid-cap from being a small-cap stock. I remember it as a penny stock too because the price of the stock was very low back then. Many financial experts have already commented that the stock price would stay above 40 Rs for a while and there will be too much resistance because people believe in the company.
The good thing is that I bought this stock for my sister and she has been holding it for more than 5 years. We did not care much about this stock because there was no movement in the price. But today it is almost 3 to 5 times the bought price I believe. Maybe it is better to not be greedy and book the profits right now and focus on other stocks that are just getting started. It is hard to pick a good stock and grow the funds along with the stocks. For some people, luck is also important because one stock might work for someone and may not work for another.
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