BullishMomentum & Matrimony
Everybody knows marriage is a huge business worldwide, In India, it is highly unorganized $55 billion marriage service industry. For most it is once in lifetime experience and no one wants to leave any stone un-turned to make it the most special and memorable.
BullishMomentum was looking for stocks with potential to survive and even thrive the Covid-19 pandemic and that is when it stumbled upon Matrimony stock. The unorganized players had shut shop due to pandemic and lock down, while organized players were making the most of it by providing most of their services online and matchmaking via video conferencing
The stock prices were rising consistently on extreme low volume, indicating accumulation by known and capable market players. Finally we made an entry at a price of 395/- on 30th June 2020 when after the price gave big move post small ranged move. The stop loss given was 357/-, the risk of 38/- or 10%
However if making money in market was so easy, everybody would have done it. As with most entries - the price retraced almost all its' advance same day and closed below our purchase. Next day again the same story - huge price advance till 440 and closing below our purchase price. The stock kept trading in contracted price range for next 14 trading session and closing below our purchase price almost all day.
This made most market players impatient, using intra day price advance to offload the stock at no loss, almost at cost or minor gains. These players did not know what is about to hit them, they lost an opportunity to make 60% profits on their holding due to their impatience. The expected breakout finally happened on 21st July 2020 and the same sustained. As seen in below chart the stock made a high of 639/- on 24th July 2020.
Market takes most of the time in deciding if to go or not to the destination, however the journey to destination takes no time at all via - you blink and miss type of fast and furious movement. It took three days for the stock to move 60% and 14 days to decide the range of move.
BharatMatrimony, India's leading provider of online matchmaking services delivers matchmaking services to users in India and the Indian diaspora through its websites, mobile sites and mobile apps complemented by on-the-ground network of 140 retail centres in India.
It has been ranked as India's most trusted online matrimony brand by The Brand Trust Report India Study 2014 (a study covering 20,000 brands across 16 cities). BharatMatrimony.com comprises a network of 15 regional portals.
BharatMatrimony has been featured in the Limca Book of Records for "most number of documented marriages online".
Marriage Services
BharatMatrimony goes beyond matchmaking services by providing other matrimony related services.
A wedding venue discovery platform that connects to over best 500 mandapams & banquets across Tamil Nadu.
Offers the best wedding vendors and amazing discounts from 500 wedding brands and services.
matrimony.com
Launched in 2001, Matrimony.com is a pioneer in online matchmaking and marriage services. Powered by over 3,500 employees at 150 branches across India, its flagship brand, BharatMatrimony, has 15 language based domains under its umbrella.Serving Indians worldwide, the company pioneered many new services such as EliteMatrimony, CommunityMatrimony, MatrimonyPhotography, MatrimonyBazaar and MatrimonyMandaps. CommunityMatrimony.com is a conglomerate of over 300 community oriented portals.
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