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IIFL Holdings and Puravankara Hit Trailing Stop Loss. Time to Move On? - Views on News from Equitymaster

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  • Dec 6, 2017 - IIFL Holdings and Puravankara Hit Trailing Stop Loss. Time to Move On?

IIFL Holdings and Puravankara Hit Trailing Stop Loss. Time to Move On?
Dec 6, 2017

IIFL Holdings and Puravankara, two of our open positions in Profit Velocity, ended their trading sessions lower today.

While IIFL Holdings closed marginally lower by 1.4%, Puravankara witnessed selling pressure and ended its session with around 4% losses.

We had recommended IIFL Holdings at Rs 596 on 24th July. Since then, the stock had touched a high of Rs 718 and accordingly showed around 20% gains at one point in time.

As for Puravankara, we had recommended the stock at Rs 110 on 18th November. The stock had touched a high of Rs 152 and showed around 39% gains at one point in time.

The momentum for both the stocks, however, has weakened lately. They have been witnessing selling pressure and are the latest casualty of our insistence of a trailing stop loss.

As you are all aware, we have a trailing stop loss in place for Profit Velocity recommendations.

With a trailing stop loss, we raise our selling price every time the stock goes higher.

Say one buys a stock at Rs 100 per share and sets the trailing stop at 20%. If the stock rises to Rs 160 per share, one would sell on a decline back to Rs 128 (20% of Rs 160 is Rs 32. One subtracts that Rs 32 from the 160 high to determine a Rs 128 stop price).

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INTRODUCTION:
Equitymaster Agora Research Private Limited (hereinafter referred to as "Equitymaster"/"Company") was incorporated on October 25, 2007. Equitymaster is a joint venture between Quantum Information Services Private Limited (QIS) and Agora group. Equitymaster is a SEBI registered Research Analyst under the SEBI (Research Analysts) Regulations, 2014 with registration number INH000000537.

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DISCLOSURE WITH REGARDS TO OWNERSHIP AND MATERIAL CONFLICTS OF INTEREST:
  1. 'subject company' is a company on which a buy/sell/hold view or target price is given/changed in this Research Report.
  2. Equitymaster has financial interest in Puravankara Limited
  3. Equitymaster's investment in the subject company is as per the guidelines prescribed by the Board of Directors of the Company. The investment is however made solely for building track record of its services.
  4. Equitymaster's Associates and Research Analyst or his/her relative doesn't have any financial interest in the subject company.
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Nov 16, 2018 (Close)

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