Bought Happiest Mind - Long Term HoldingThis is my experience with share of Happiest Mind.
I first heard about Happiest Minds at the time of its Initial Public Offer (IPO), watched other people research video on YouTube and liked the Company's Idea and overall business and applied for IPO at a price of Rs. 166 per share for 90 shares that is Rs. 14,940 worth of Investment. The share had huge subscription (151 times) and other overall good factors consequently the share listed at Rs. 350 per share. (whooping 111% premium). After such a huge listing lot of short term investors exited from this share (People who solely invest for the purpose of listing gains). Later was keeping a track of the share however didn't have enough faith to enter reason being share has already doubled and hence kept postponing the decision to buy the share.
Few days later, the share started forming Channel Pattern, and every time it use to break the Channel with a huge gain. It formed another channel pattern after the first one. At the third channel pattern formation I gathered enough faith and entered at a price of Rs. 844 and guess what it broke the channel pattern and is now at Rs. 1,494 (16th July, 2021 Market Closing Price)
Note: Every time it breaks the channel pattern it also some other catalyst to support the break (For Example: Quarterly Earnings Report)
Have invested in this share for a longer term not planning to sell it any time soon.
Comments on the post are welcomed.
