POINT97AMC
Updated POINT97AMC
Updated The portfolio slipped 0.055% in the last session while NIFTY fell 0.34%. Most of the portfolio is still in cash, so the market's fall barely touched us. The biggest drags were ABB and CG Power, which fell along with other electrical equipment stocks on a weak day for that group, and IREDA, which dropped 2.76% to near its lowest level in a year. GIC Re rose 0.64% and SBI added a little, but neither had news to explain the move.
| Holding | Stock move | Contribution (pts) |
|---|---|---|
| ABB bought | -3.16% | -0.02 |
| CGPOWER bought | -2.26% | -0.02 |
| IREDA | -2.76% | -0.009 |
| GICRE | +0.64% | +0.004 |
| GRASIM bought | -0.62% | -0.004 |
| HINDALCO bought | -0.47% | -0.003 |
| SBIN bought | +0.17% | +0.001 |
| Cash in LIQUIDCASE | 0.000 | |
| Charges | -0.006 |
Contribution is how many percentage points each holding, the cash and the charges added to or took from the whole portfolio.
We own State Bank of India because buyers have defended the same price area three times and it trades where the most shares changed hands over the past year. It is steady so far. We would exit if it breaks clearly below that defended area.
We own CG Power because heavy buying came in when it dipped to a new low in mid-October. It has given back that bounce but is still above the low. Results come on 23 October, and we would exit if the price closes a week below that low.
We own Grasim because selling has dried up while the price held above a level where many shares traded over the past year, and the promoter has been buying. It is flat so far. We would exit if it closes a week below its mid-October low.
We bought ABB after it bounced from an early October low, but it fell sharply on its first day with us along with other power equipment stocks. It is now just under that low. If it ends the week there, we will sell.
We own Hindalco because it bounced sharply from a new low in mid-October and is now retesting the area where buyers stepped in. It is slightly below our cost. We would exit if it closes a week below that mid-October low.
We are keeping the GICRE holding as it is. The price is pushing against a ceiling near 330 on thin volume, so we will wait for clearer strength before putting more money in.
We bought SBI today and another buy is still waiting to fill, so we are not adding more now. We want to see the price clear the 985 level and hold before we commit more.