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Few loss booking tips
I tried as long as I could to hold, but I can't imagine wiping of my capital if it falls even more. So I looked for strategies on perplexity, it suggested few good things as follows. 1) book losses against capital gains so you won't be taxed, right now I don't have capital gains but if I carried forward my losses it could be carried forward till 8 financial years. Eg. If I have loss by investing in short term of long term it could be used for offsetting Short term capital gains. For offsetting LTCG you must have losses in long term investment. So next time when you go to your chartered accountant don't forget to tell him to carry forward your losses. 2) Sell you holding in 5 or 6 steps. It relieves mental pressure step by step and don't give us feel that bad when we sell all the holdings simultaneously. Sell those stocks which you think won't be back in near future. Invest in blue cheap instead. This one is if you are stuck with daily 3-4 percent fall in same stocks. Do your own research before doing anything. I find perplexity deep research very useful for it. That's it for now.4
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