SPYL 59- Bought 1000 shares at 57 in morning. My stop-loss also 57 (Even I may short if it breaches). My target for 900 shares is 73 & 100 shares is 90 (even I could carry).
I apply with SBI ASBA and trade with SBI capsec online. I have been allotted 274 shares in SPYL. Today when allocation to trade was made in the morning, it did not accept due to some technical glitch. I called up customer care and they have told me that they will set it right shortly.By around 12 to 12.30 noon.
By hindsight, if they were allocated, probably I would have started selling and maybe average selling price would have been around Rs40 to 45.Since I place sell orders at different points in time, they average out.
As I was not able to trade in the morning,I was cursing SBI capsec.
Now if they have set right the problem, I can sell at a better rate than earlier.Maybe in the region of Rs 55.Hopefully.
It is very dicey with IPOs on the listing day. If we do not sell in the morning, many a times you won't see that rate again.
SPY is an exception.More buy quantity than sell right from morning. I am keeping my fingers crossed to sell now, with the technical problem resolved by SBI CAPSEC.
I have put sell order for half at 49.Sold half now at 46.5.I have never experienced tension after applying for an IPO becos I apply only after full preparation,Shekawathi I had hope becos all fixed Issues were blockbusters & had clearly mentioned while asking people to go for it & also given examples hence there is a method in my madness. I have not yet experienced the agony of loss in IPO till now touchwood.Anyhow People would have lost maximum 500 rupees even if it listed in discount.I spent sleepless nights only when I dealt in grey market & I lost a hefty amt due to default otherwise IPOs have been very kind to me.
Dear Friends, Congrats on a bumper listing of Shekawathi.I am happy those who applied on my advise have made more profit than MOIL & PSB.You can sell at your convenience.Already more than 6K profit per applciation.