Update

NIFTY has respected hammer pattern more than expected. I had not anticipated this big move and was not prepared at all.
However, generally any kind of fast progress is risky and not sustainable. Usually share markets will always turn the direction after making everybody complacent and relax. In two days of trading Tuesday and Thursday, everybody is bullish. FIIs also did huge buying today after few days and may extend rally tomorrow morning till 5970-5985 again. Even if there is gap down opening, gap could be filled very soon to touch 5970-5980 levels.

Due to sharp up-move most of the indicators are still in oversold region and this will help to fuel rally further. Nothing had changed between Friday last week and Thursday this week except NIFTY!
In recent history NIFTY moves 200-300 points in four/five days and corrects by similar numbers in two days. So be careful as fast growth could see deep correction.

Our portfolio

Contract              Buying price                 Present value                          Profit/loss/lot

NIFTY 6150       55                                70                                          +750

BN 9800             440                              225                                        -5375

DLF 130             9                                  6.15                                       -2850

TCS 2200           20                                33                                          +3250

 Jindal 230           9                                  5.50                                       -3500            
Aurobindo           6.10                             6.30                                       +400
Hero 2100          60                                54                                           -750

So present loss is around 8000/-
Let us hold, if tomorrow market falls during closing hour and table turns in to green then exit, otherwise hold for next week.

No new trades.

Disclaimer: This blog does not take any responsibility of your profit/loss