New Delhi:
Musician Suleman Merchant has advised to be very careful in both music and investment. Talking to NewsDeskReport Profit, he said that when it comes to investment, I believe in a certain pattern, I stick to it and then add some things to it. The musician said that there are some similarities between music and investing.

Suleman Merchant said that investing in the stock market started during the Covid-19 pandemic.

He said, “When we were sitting at home making music during Covid, I saw the news of the market falling. I thought this was the right time to join in and build a portfolio. I started with Vodafone stock. We made it almost Bought it at Rs 3 and when the share price increased, sold it at Rs 7-8.”

The musician said the initial stock investment gave him a lot of confidence, but it was short-lived. Later I got involved in stocks which I should not have done. Especially in manipulated stocks, about which I did not understand much.

He said, “After these losses, I realized the importance of research before investing. I started doing research and building my portfolio based on my investments. Now, I have a very good portfolio.”

He said, “When people were buying cars, we bought a music studio. We drove around in a Maruti Omni, but we made sure to invest in our studio. We invested in opening Merchant Records, our dream project.”

“In 2020, I think the electric vehicle story is really big,” Merchant said. “I still invest in electric vehicles and its subsidiaries. I also look at stocks that I think have their value.” The dues have not been received.”

Suleman said that he also invests in American markets. Apple, Nvidia and Tesla are some of my favorite companies.

Advising young and first-time investors, Merchant said, “First, know what you are doing and second, limit your exposure.”

He also stressed that one should invest only as much as one is comfortable with. He told that I would rather not buy anything than buy and then get stuck.

Speaking about the technical aspects, Merchant said, “The main indicators that I follow are the 20-day EMA and SMA, as well as the 50-day, 100-day and 200-day charts for the longer term. “I also consider the monthly charts before I start.”

Merchant shared his experience of initially investing in manipulated stocks, saying, “When I first started investing, I didn’t know which stocks to buy. I asked for advice and picked a few stocks based on the suggestions. Bought some of those stocks that had fallen by about 50% before I came in. That’s when I realized I had no fundamental knowledge.”

He said, “I want to leave behind a structured company and a legacy of the songs I composed.”