@Xtrapreneur,
There could me many reasons as to your tyre skidded.
- You are not leaning hard enough
- Your tyre pressure is too high or low
- Road does not have sufficent gripping properties.
Foosa,
You have explained the process well.
I had similar problems with this stunt earlier. The best thing to do is to perform it much slower and be careful of the three points mentioned above for a smooth lift.
Secret : You also need to have a lighter bike