General Chat Transcript
Room Name: Vtrender
Date and Time: July 08, 2014 09:31:24
[09:04] r m : Good Morning folks!
[09:06] Shai : GM all
[09:06] Shai : http://vtrender.com/trading-room-levels-and-plan-for-8th-july/
[09:08] Amit J : GM all
[09:20] Shai : NF can go down to 7785
[09:20] Shai : 80% rule trade sl 7814
[09:22] Shai : BNF open abv pdl
[09:23] Shai : so more likely a pdl- pbh kind of trade
[09:23] Shai : pbh= pull back high at 15550
[09:24] Shai : Today it is CNXIT turn to drive down
[09:24] Shai : so that should keep BNF up
[09:25] Shai : it’s the most obvious trade of the past 3 months- IT down= banks up
[09:25] Shai : if only cnxit was as liquid!
[09:27] r m : 8-10 point diff in bid and ask!
[09:27] Shai : yes I see that every day and hope 1 day it will be 0.8- 0.10 🙂
[09:28] Amit J : Finally cipla at 457 Shai.
[09:28] Shai : Nice trade Amit 🙂
[09:28] r m : Congrats Amit!
[09:30] Shai : there’s no trade at 15550
[09:31] Amit J : thanks, high convition positional trade makes wealth
[09:32] Shai : true
[09:34] r m : ODIN showing marker trade (1 lot) at 15550 🙂
[09:35] Shai : ok
[09:35] Shai : 15550 is a big level for intra
[09:35] Shai : can swing the BNF either to 15640 or back down to pdl
[09:36] r m : yep, VAH too around that area
[09:36] r m : NF shows BN like speed in 80%!
[09:41] Shai : BNF is shoing buyers respond
[09:41] Shai : don’t short yet
[09:41] Shai : *showing
[09:45] Shai : BNF in a very diff place below pdl now 15455
[09:45] Shai : has to rise quickly
[09:45] r m : NF covered single prints
[09:47] Shai : did you get any vol at 7760 yesterday except that1?
[09:47] r m : none
[09:48] r m : 7773 was the lowest yesterday where some volume was traded
[09:48] Shai : yes
[10:02] Shai : vwap test coming up
[10:03] Shai : 7803/ 15522 was limit order based selling but big qty
[10:03] Shai : they will hold stops just abv vwap
[10:21] Amit J : Cipla breakout at IR of 457
[10:31] Shai : that reverse 80% above val of 7788 will also be quick if the mkt climbs abv
[10:32] r m : stop also should be small for that – just below vwap?
[10:34] Shai : yes
[10:34] r m : Thanks
[10:34] Shai : 7 will do or 7780
[10:34] r m : ok
[10:43] Shai : Buyers
[10:49] Shai : sellers came back just at val
[10:52] Shai : Here is the background chart of the NF at 7755- http://prntscr.com/40ijsz
[10:52] Shai : See the buyers who came there
[10:53] Shai : It’s become 2 way since near vwap
[10:53] Shai : as one would expect
[11:00] Shai : Rail budget at 12.00- so whatever the market does next should happen then
[11:00] Shai : most probabaly should stay at vwap
[11:01] Shai : thise 15 points val to vah in NF are a high probability trade
[11:02] Shai : when the markets do a gaussian curve 80% trades often end up as 96% success trades
[11:02] Shai : only thing is point wise they will not be 40- 60 but about 15-20
[11:05] Shai : BNf eyeing a 15470- 15520 trade with sl below pdl or vwap which should be around the same point when trade gets executed
[11:05] Shai : *if trade gets executed
[11:06] Shai : again seeing buyers at day lows but becoming a 2 way auction at vwap in BNF
[11:38] Shai : hesitation at vwap
[11:38] Shai : morning sellers are holding
[11:39] Shai : (10:02) Shai :vwap test coming up.(10:03) Shai :7803/ 15522 was limit order based selling but big qty(10:03) Shai :they will hold stops just abv vwap
[11:43] r m : Railway’s twitter handle – @RailMinIndia
[12:10] Shai : is it updating live?
[12:10] r m : not so far 🙂
[12:12] r m : yes, updating now
[12:13] r m : oops, that was @PMOIndia doing rail min’s job 😀
[12:15] r m : http://www.webcast.gov.in/
[12:15] r m : here it is live
[12:16] Shai : thanks
[12:18] r m : somebody in the railway ministry woke up and their twitter handle is live now!
[12:23] Shai : FDI confirmed
[12:46] r m : some signs of blue
[12:46] Amit J : looks very very good budget.
[12:48] r m : Yeah, Modi is sitting like a hawk monitoring his railway minister 🙂
[12:57] Shai : auction at day low
[12:58] Shai : vwap band trying to bounce it back
[12:59] Shai : Lots of people on google will be searching for PPP after the amount of times gowda has used it
[13:06] Shai : lots of buyers now
[13:06] Shai : 7772 has sellers
[13:09] Shai : only buyers in those last 20 points from 7740
[13:12] Shai : what was the shouting about in the last 15 mins?
[13:16] Shai : 7770 is where the selelr entered around 12.45
[13:16] Shai : but this drive up can become a neutral day now
[13:16] Shai : if we cross vwap
[13:16] Shai : strong buying
[13:17] Shai : recomend dlong abv 7778 with sl below 7770 for 7803/ 7825
[13:19] Shai : still no new sellers at 7771
[13:20] Shai : just the old ones holding up here
[13:22] Shai : frist sign of the seller again at 7770
[13:42] Shai : again buyers
[13:42] Shai : short covering above vwap is the better trade from vwap cross
[13:42] Shai : but vwap has to cross for that
[13:44] r m : rediff on ruckus in loksabha – 13:14 Ruckus from the opposition Sadananda Gowda reads out the rail budget. Can’t fathom the reason, except that lunch time nears.
[13:44] r m : 🙂
[13:47] Shai : lol
[13:47] Shai : was weird . They didn’t let him finish
[13:48] r m : perhaps they want to show that even 44 have enough lung power!
[13:49] r m : rail budget on web http://t.co/Zh9G1pEpdG
[13:55] Shai : sellers becoming stronger
[14:08] Shai : contra long at 7710 for 7760 with 7701 as sl
[14:08] Shai : high risk but 10 point sl only
[14:12] Shai : sl taken
[14:29] Shai : 7737 is next ref line for the seller
[14:34] Shai : have to be careful if bull
[14:34] Shai : market can close at 7652 below 7691
[14:37] r m : 4th July low was 7676
[14:37] Shai : yes
[14:38] r m : europe red, UK IIP numbers were due today
[14:41] r m : -0.7% against expectation of .2% (MoM)
[15:02] Shai : dax has also sold off
[15:03] Amit J : dax made a beautiful tripple top distribution at 10050
[15:04] Shai : NF has decided to close at the lows
[15:08] Shai : did the market mistake the rail budget for union budget?
[15:08] r m : lol
[15:09] Shai : I saw an hour of TV last night and almost every1 said that one should sell post budget
[15:10] Shai : so now budget rally as soon as budget is done 🙂
[15:10] r m : guess market is higher than anybody thought it was possible about an year back
[15:10] r m : lol
[15:10] Shai : true
[15:11] Shai : there are tradpped buyers in today’s tape at 7755/ 7735 and 7710
[15:11] Shai : *trapped
[15:11] r m : ok
[15:11] r m : so every time these levels are reached there will be plenty of selling!
[15:12] Shai : bigger support for the index is 7620/40
[15:12] Shai : I think we rally hard from there even if we get an avg budget
[15:12] Shai : only thing it should not be a populist one
[15:13] Shai : then the market may sell off
[15:14] Shai : technically if 7620 breaks then 7555/ 7500
[15:15] r m : I don’t think that MMS government has left any scope for populism in govt coffers, Modi should be grateful to Congress for that 🙂
[15:17] Amit J : trending day – with close at low.
[15:17] Amit J : getting inside budget candle
[15:17] r m : yeah, just like you said tuesday will be last week!
[15:19] r m : dip buyers have taken bullet train to somewhere 🙂
[15:20] Shai : 7620
[15:20] Shai : place to bounce
[15:24] Shai : Bounce has to confirm tom
[15:24] Shai : today is trend day lower close
[15:25] Shai : BNF also at 14970 supp
[15:25] Shai : 197 point day
[15:30] r m : Thanks and bye, have a great evening 🙂
[15:31] Shai : Bye all
[15:31] Shai : Have a nice eve