Published on: June 23, 2024
Over my 18-year career in broking, I have met countless clients, each with their unique trading and investing stories. But one client, Rajesh Mehta (name changed), stands out. Hailing from Pantiya in Kutch, he’s a man who, after moving to Mumbai in the early 1980s, carved out an extraordinary path in the stock market, a journey that I’m excited to share with you.
Recently, I had the privilege of meeting Rajesh Mehta and was granted the opportunity to share his remarkable journey. This encounter provided a window into his fascinating past and offered invaluable insights into trading and investing, shaped by his decades of experience and unwavering passion for the markets.
Rajesh, a shrewd trader and investor, had navigated the turbulent waters of the stock market with remarkable acumen, amassing a fortune that allowed his family to enjoy a life of comfort and prestige. His journey, however, was not just about accumulating wealth but mastering the art of trading and investing, an art he was determined to pass on to his beloved daughter, Priya.
The Rise of Rajesh Mehta
In the late 1980s and early 1990s, the Indian stock market was a different world. It was a time of bullish trends, speculative fervour, and the legendary rise of Harshad Mehta. Rajesh, with his sharp insight and risk-taking ability, thrived in this environment. He was known for his knack for picking winning stocks and his fearless approach to high-stakes trading. While many saw the market as a chaotic gamble, Rajesh saw patterns by plotting the price chart on graph paper using prices from the weekly newspaper bhavcopy, turning chaos into opportunities and a chance to build a legacy.
He mastered the art of technical analysis in the early 90s when technical analysis was just a rare field of study. He was adept at identifying key support and resistance levels by using trend lines, and to date, he only trades using trendlines. He has mastered the art of trendline with the angle, and that was the first time I had heard about the trend angle. If you have seen my videos, I discussed the 22.50-degree trendlines; it’s his theory. He is never tired of discussing markets and is always there to teach something every time I meet him.
The Mehta household was abuzz with discussions about stocks, indices, and market trends. Rajesh’s wife, Sunita, often joked that Rajesh breathed the stock market air. His passion was contagious, and it wasn’t long before their daughter, Priya, started showing an interest in her father’s world.
The Apprentice
Priya was only 15 when she made her first trade under her father’s watchful eye. It was a modest investment, a few shares in a promising technology company. Rajesh believed in learning by doing, and he encouraged Priya to analyse market trends, study company reports, and understand the fundamentals before making any investment. “The market rewards knowledge and patience,” he often told her. I always remember his statement because in early 2008, when I started learning Harmonics, I discussed it with him, and he said – to give at least 2 years to my studies and water it every day (practice) to get the fruits.
Priya absorbed these lessons like a sponge. She was diligent, spending hours pouring over financial news, learning the nuances of technical analysis, and discussing strategies with her father. Rajesh, proud of his daughter’s enthusiasm, shared stories of his own experiences, the highs of soaring stock prices, and the lows of market crashes. He taught her that the stock market was about making money and understanding human psychology, market sentiments, and the broader economic environment.
The Transition
As the years passed, Priya’s understanding of the stock market deepened. The Indian economy was evolving, and so was the stock market. The introduction of online trading platforms in the late 1990s and early 2000s revolutionised the way people traded stocks. Rajesh, who had initially thrived in the open-outcry system, adapted to these changes, and so did Priya.
Under Rajesh’s guidance, Priya developed her own trading style. She was meticulous, analytical, and had a knack for identifying emerging trends. She also learned to manage risks, a crucial aspect of trading that her father emphasised. Rajesh’s mantra was simple: “Never let greed or fear dictate your decisions.”
The New Era
By the time Priya entered her twenties, the Indian stock market had undergone significant transformations. Introducing the Securities and Exchange Board of India (SEBI) brought in regulations that made the market more transparent and investor-friendly. The advent of technology further democratised trading, making it accessible to a wider audience.
Now a seasoned trader, Priya began to carve out a name for herself in the financial circles. Her portfolio grew steadily, and she started making headlines for her astute investments and impressive returns. Rajesh watched his daughter’s success with pride, with the same passion and dedication he had once exhibited.
A Legacy of Wisdom
Today, Priya Mehta is one of the most successful traders in the Indian stock markets. She credits her success to the invaluable lessons imparted by her father. Rajesh, now retired, often reminisces about the days when he and Priya would stay up late, analysing stock charts and discussing market strategies.
Priya’s journey is proof of her father’s timeless wisdom: the importance of knowledge, the value of patience, and the need for disciplined trading. The stock market has evolved, but the core principles of trading and investing remain unchanged.
In the heart of Mumbai, in a modest but elegant home, Rajesh and Priya often sit together, sharing stories of their journeys, celebrating their victories, and reflecting on the lessons learned. The tale of Rajesh and Priya Mehta is not just a story of financial success; it is a story of legacy, of wisdom passed down from one generation to the next, ensuring that the art of trading and investing in the Indian stock markets continues to thrive.
