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Over the short run, stock price of the best managed company can drop with no reason. However, over the long run, stock price only follows fundamentals of a company.
Do not follow stock price quotes twice or thrice in a day. It creates unnecessary panic and sometimes meaningless delight.
You should monitor you investment regularly. However, monitoring does not mean checking stock price daily, rather it means following company/industry specific news, financial result, and management interview/commentary.
Do not focus on index movement. Do not try to predict near term nifty movement. You are investing in individual stocks rather than portfolio.
Never calculate profit/loss as long as you are holding a stock. Remember, the entire profit/loss belongs to the market until you sell a stock.
