Reverse Strategy for dividend stocks

 Lots of people buy dividend stocks because of their dividend yield. However it is important to buy dividend stocks well in advance when they are cheap. Lots of people buy them closer to ex-dividend date when they tend to get expensive.

I have noticed that for many stocks, price drop subsequent to ex-dividend date is more than value of dividend earned.

Example: 

Majestic Auto reached 500 INR because of its 25 INR dividend, but within week has crashed to 350 INR. 150 Rs loss in share value for a dividend of 25 INR

HPCL was trading at 405-410 INR on its beach during ex-dividend date and now has crashed to 365 INR. 19.25 INR dividend but 30-40 INR loss in value

Gurjat Pipavav port was trading at 150 INR few weeks ago, now at 165 INR. It may reach 170 before its ex-dividend date and will most likely crash back to 150-155 level after ex-dividend date. No point losing 20 Rs per share for 5 Rs dividend.

So I've devised a strategy below- let me know your thoughts

My strategy focuses on encashing price appreciation before ex-dividend date and sacrifice dividend value- it is a win if stock price drops back to earlier level within weeks of ex-dividend date.

One risk is stock not falling after ex-dividend date.

Disclaimer: personal observations and ideas only. I am not a registered advisor and can't guarantee stock price movements. Do not take action based on my post. Do your own research, analysis and take calculated risks.