The Economic Times Equity Challenge

Friday, September 28, 2007

Yo! I rule (not anymore though). I enrolled in the Economic Times Equity Challenge exactly two weeks back and it took lesser than i had imagined to break into the top 100. Let's just say I was riding high on the Reliance wave. The game is simple...the way it works is you get a notional amount of Rs. 10 Lakh on the first of every month to build your portfolio. The person with maximum gains at the end of the month is chosen as the winner. I made it to the top 10 day toppers for 3 consecutive days . It was amazing to rise from Rank 1400 on day 1 to Rank 78 in 10 days. Wish I had enrolled on September 1. And what if it were real money..I would be sitting on a cool 20% profit in less than two weeks..phew!

The secret is not to worry too much as in real money and not do much during the day, to book profits and reenter the counter on dips. I also stayed away from too much speculation and responding to market rumors. The best was 50% gains in Reliance Natural. I had purchased 900 shares of RNRL for real too on 4th September but sold them a day early to book a 10% profit. The very next day it shot up by 37% followed by 22% the day after. I was just shot of killing myself for having acted in haste.