If you believe it is a good company, with a good management, good financials, and a good long term business to be in, short term problems are excellent buying opportunities.
And unless you are extremely lucky, you can’t catch the bottom. Better to pick it up gradually on way down, and consider yourself lucky if you get it cheaper.
Also, today is the last trading day before Nirmala Sitharaman’s expected announcement - so market seems to be reacting. Stock is already up almost 4% from its low this week.
1. The entire market went up and its not because of Nirmala Madam, please be aware about what's happening at global scale. The big guys already knew about the Trump china Deal. I guess big money allows them to have big friends and big friends share story with other big friends and not small Investor Traders.
2. The entire market went up, LT is good company so naturally some recovery came in this counter too.
3. Regarding your comment at catching the bottom, I did not want to comment further in this post, but somehow I feel this statement is misleading. What you may be missing is the mistake I have done a lot in my days of a Investor. Your are simply trying to catch a falling knife. If you wait for price to make HH and HL on a HTF then you may buy a little expensive but your ROI x Time will be much better. Please do the math. This does not mean that price can not go up from this level in LT, All that is required is to wait for Trend to change before we move in.
4. One exception to this rule can be to buy at major S/R levels. but it has to show a rejection of the breakdown of that level. Simply buying at that level in first attempt makes the trade very risky as we don't know how price will behave after touching that level. So I will make a marking for u below, when you see rejection of that level, On smaller time frame you can add your position. This will give you a quicker entry at better price.
Please read saint sir post regarding the same.