Bull rally continues today on Nifty. 475 points up so far.

Today, 25th March, we are witnessing continuation of the bullish sentiment in the Indian markets. Nifty 50 opened gap up by 147 points at 23064 and we knew that it was going to surpass our short position's stop loss (SL) level at 23016. We had no option but planned to square off that position at the opening itself with a bigger than expected loss.

We could square off the position at 23070 (Nifty futures premium is almost Nil) making a net realized profit 180 points or Rs 46,800. Simultaneously, at exactly 23070 we took a Long futures position because the spreadsheet was dictating that at the opening price of the day. The day progressing very well so far with Nifty trading at 23420 at the time of this writing.

As per this, our Long trade stop loss should be placed at around 22769 which seems far away. Total booked profit in this March series from the hypothetical strategy so far is 1435 points (3 trades - 1680 gain, 425 loss, 180 gain) or Rs 3,73100. We have one more week remaining and a long position taken at 23070. The real money F&O strategy will start searching for new trades from next week Wednesday onwards.