General Chat Transcript
Room Name: Vtrender
Date and Time: January 02, 2015 09:22:40[08:52] r m : Good Morning folks!
[08:53] r m : http://vtrender.com/levels-and-plan-for-020115/
[08:53] r m : http://vtrender.com/premium/orderflow-charts-and-notes-0101/
[08:53] Porus : GM all
[08:53] r m : NF Hypo1 below 8336➜8313➜8285 SL8357 Hypo2 above 8358➜8381➜8423 SL 8337 JAN Future levels
[08:53] r m : BNF Hypo1 above 18870➜18930➜19030 SL 18835 Hypo2 below 18830➜18790➜18720 SL 18884 JAN Future levels
[09:08] Keshav : morning all
[09:12] Rahul G : Gm all
[09:13] Sharad : GM all
[09:19] r m : NF at hypo1 target 1 in 4 minutes!
[09:20] Rav : bnf footprint is having some blocks
[09:33] r m : bnf at target2
[09:39] r m : nf close to target2
[09:40] r m : nf at target2
[09:44] r m : NF Jan hourly http://screencast.com/t/phbfmmT0
[09:44] r m : 8439 next
[09:50] Rav : 8000-8300 PE Magic
[09:51] Keshav : now i am beginning to understand a bit
[09:51] Keshav : here
[09:53] Keshav : today the oi change graph is totally inverted is
[09:53] r m : @Rav 🙂
[09:54] Rav : sc for ce writers
[09:54] Keshav : and for pes?
[09:55] Rav : 40-50% profit for pe writers
[09:55] r m : @Rav, you spotted it very well and quite early, that 8320 spot came quickly!
[09:56] Rav : today, I did not take nf and bnf to be frank bur booked positions
[09:56] Rav : but
[09:56] r m : ok
[09:57] Keshav : http://imgur.com/fGLK4JQ
[09:57] r m : spot near previous peaks http://screencast.com/t/E7XiktnF8M
[09:57] Keshav : update on price channel
[09:58] Keshav : break above the channel is a bullish scenario
[09:58] Rav : now huge shortcovering may set in
[09:59] r m : Thanks Keshav, which data vendor you are using?
[09:59] Keshav : then we could count on this swing for some more points on the upside
[09:59] Keshav : its called shareking
[10:00] Keshav : but data is slow
[10:00] r m : ok
[10:02] Rav : bnf is likely to to hot 19225 as sc set in
[10:06] r m : BN is at ATH again, it happens regularly with BN, it has more faith in Modi then Rajan 😀
[10:09] Rav : most of the heavy weight stocks option PCR is violating
[10:09] Keshav : @rav but the option pain for both nifty and bank nifty below its current trading price
[10:10] Keshav : does it offer any learning when combined with OI
[10:12] Keshav : i guess today the volumes came back
[10:12] Rav : ITC RIL not moving but banks comp hdfcbank,sbi,axis,icici crossed pcr limit .
[10:14] Rav : bnf adx is 70
[10:26] Keshav : http://imgur.com/zluC2Q3
[10:26] Keshav : this is how bnf is shaping out
[10:27] Keshav : we are yet to see a retracement back to vwap
[10:28] Keshav : so strong ride till now
[10:28] r m : Thanks Keshav
[10:28] r m : IB is big, so chances of a retreat to vwap for NF
[10:30] Keshav : hmm
[10:35] Rav : bnf adx at 75 !!
[10:35] Keshav : which time frame??
[10:40] Rav : 5 min
[10:53] Shai : GM all
[10:54] r m : GM Shai, Happy New Year 🙂
[10:54] Porus : Welcome back Shai
[10:54] Shai : Wish you all a happy new year 2015
[10:54] Shai : GM Rm- Thanks
[10:54] Keshav : wish you the same shai
[10:54] Shai : Thanks Porus
[10:55] Shai : fantastic move today in NF and BNF
[10:55] Shai : open drive off a multi day balance zone
[10:55] Shai : would have caught many by surprise
[10:55] r m : yeah, like a pressure cooker lid blowing off!
[10:58] Rahul G : gm shai
[10:58] Shai : GM Rahul
[11:02] Shai : BNF may have a bit more steam left in t for 19240- 19278 by close
[11:02] Shai : sl is 19150 last low , but vwap is better
[11:03] Rahul G : shai but the delta in NF is -ve and in BN not too great
[11:03] Shai : Morning NF longs have gone off in NF
[11:04] Shai : But BNF still holding
[11:04] Shai : hence mentioned BNF only
[11:05] RK : Hi Shai GM, Welcome back and Happy New year :)) # assortz here sacrified alias name 🙂
[11:05] RK : Hi RM and all good morning 🙂
[11:05] Keshav : morning rk
[11:05] Shai : GM RK- thanks and wish you more of the same
[11:06] r m : Hi RK 🙂
[11:07] RK : RM what a move today..was expecting another low volume boring day:)
[11:08] r m : 2nd Jan funds are back with a bang usually!
[11:08] Shai : vol is laready better than yesterday
[11:13] Shai : 8426- 8435 supp band now in NF
[11:14] Shai : as long as we stay above that a small possibility that we now close the weeek at highs
[11:14] Shai : possibly at 8498F
[11:14] Keshav : hmm
[11:14] Shai : looking at 19280 closing in BNF
[11:15] Keshav : @shai what if we go to vwap? even then a upmove is possible givn the morning stregnth right?
[11:18] Shai : yes
[11:18] Shai : an Open drive led by buyers will look to defend vwap
[11:18] Shai : but pace of the move up drops below IBH
[11:19] Keshav : oh. sounds logical. new learning
[11:19] Shai : the move led by BN
[11:20] Shai : could be to do with the meet in Pune on banking
[11:20] Keshav : hmm
[11:27] Shai : short term intra focus 19155 ad 8432 IBH
[11:28] Shai : looks like buyers not interested to pursue the move further up though , but not enough sellers here
[11:28] Keshav : hmm
[11:28] Shai : so we may grind in a P till 1-30 to 2now
[11:29] Shai : “Short Term : (On spot prices)The Nifty has managed to stay above the longer time frame supply at 7920- 7940 spot. This region is also now new support over the short term. Over the coming week resistance likely to build at 8351- 8399 spot . Support would be at 8125 during the week. ”
[11:30] Amit J : welcome
[11:30] Shai : 8147 low and 8380 res nowon spot
[11:30] Shai : Thanks Amit
[11:31] Shai : move is to 8448 spot if we scale up
[11:32] Shai : in line with the 8498 F spoken of earlier
[11:43] Shai : call writers closing positions
[12:13] Shai : http://screencast.com/t/pGxEHewxwCc
[12:18] Shai : That move to 8456 met with immediate sellers
[12:26] Shai : looks good tp close now at 8498 F
[12:26] Shai : 19278 BNF still a tgt
[12:26] Shai : 19155 holding from 11
[12:27] Shai : (11:13) Shai :8426- 8435 supp band now in NF. (11:14) Shai :possibly at 8498F
[12:27] Shai : (11:14) Shai :looking at 19280 closing in BNF
[12:34] Shai : 8399 spot is vwap of Nov
[12:35] Shai : all clear abv 8399 for an immediate run to 8448 spot
[12:46] Shai : trend day playing out now and both indices in sync
[12:46] Shai : abv IBH that is
[12:47] Shai : 8399 SPOT
[12:51] Shai : trend day dip should come between now and 1.40
[12:52] Shai : that will be the final buy for a close at the highs later today
[12:52] Porus : Shai, roughly how far does the dip go?
[12:53] Shai : about twice the max drop of the day
[12:53] Shai : it’s been only 8 points of dips from 11
[12:53] Shai : and 15 is max
[12:54] Shai : so should not be more than 32 points from 8462
[12:54] Porus : ok
[12:54] Shai : that will still keep IBH and vwap intact
[12:54] Shai : and is a buy opp with a good r/r
[12:55] Shai : on the medium term play – NOv was an uptrending month and dec a down trending one
[12:56] Shai : vwap of nov is 8399 and that of dec was at 8321 spot
[12:56] Shai : so abv 8399 spot all buyers bcak in firm control
[12:58] Porus : Shai, is a dip expected in bnf too?
[13:07] Rav : 8400pe writing is on
[13:07] Rav : Max pain shifted to 8400 from 8300
[13:07] Keshav : yes. good nos
[13:10] Rahul N : @shai.. i have long position in yes bank futures form 747, where should i book?
[13:10] Shai : BNF looks more stable from open
[13:10] Shai : good delta in BNF
[13:11] Shai : Porus yes, but not a short opp
[13:11] Shai : don’t short on trend days
[13:11] Keshav : @rav my option oracle points at 8300
[13:13] Shai : Rahul good trade
[13:13] Rahul N : tnx
[13:13] Shai : 794 F is the price objective of the weekly chart
[13:13] Shai : met now
[13:14] Shai : consider booking profits
[13:14] Rahul N : thanks i am placing an order now …
[13:15] Rahul N : also i have bank of india futures long from 297..
[13:15] Rahul N : book here?
[13:17] Shai : yes bankindia too 1st obj 34.5- 316
[13:17] Shai : can book
[13:17] Rahul N : thanks and welcome bavk and happy new year!!
[13:18] Rav : OO takes right from 7000-10000 pc but xl takes near ATM,ITM PC
[13:18] Shai : Thanks Rahul- wish you a happy 2015 too
[13:18] Keshav : okay
[13:20] B N : rrm sir – positional at 18890 got booked at 19250 – thank u sir
[13:22] Keshav : @ bn one good trade
[13:25] r m : @B N sir, Congrats on triple century!
[13:25] Shai : Nice one
[13:28] r m : @Keshav, did you read “One good trade”?
[13:28] Keshav : just added to my library
[13:28] Keshav : is it good rm?
[13:29] r m : yeah
[13:29] Keshav : i am looking for something psychological. no advise rather experiences a trader goes through
[13:29] r m : most of the trading book are that only
[13:30] r m : no trader tells his trading strategy in a book 🙂
[13:30] Keshav : yes, reminiscences of a stock operator was an excellent read
[13:31] Keshav : would love to pick up something like that
[13:31] Rav : http://www.screencast.com/users/Ravicbe/folders/Jing
[13:32] Rav : i am yet to book nf and bnf
[13:32] Rav : kesav option pain eenclosed
[13:33] Keshav : @rav link not working
[13:33] r m : RK sent me a series some time (a couple of years maybe) back a series of interviews by Jack Schwager – Market Wizards, very interesting
[13:34] Keshav : is that a book or a documentary?
[13:34] r m : book
[13:34] r m : 3 or 4 parts
[13:34] Keshav : oh
[13:34] Keshav : will check it for sure. thanks
[13:34] r m : interviews with top traders
[13:35] Keshav : hmm
[13:36] Shai : 1.40 almost and no pull back today
[13:36] r m : one was a currency trader who had screens installed in every room, bathroom, passage of his home 🙂
[13:37] Porus : bnf 19278 target reached
[13:37] Keshav : yes
[13:37] B N : (12:26) Shai :19278 BNF still a tgt
[13:37] B N : shai sir – i sold at 277
[13:37] Keshav : @rm i dont want to end up like that
[13:37] B N : will try for a few
[13:38] r m : @Keshav lol
[13:38] Keshav : but high rise office and penthouse with no electronics would do for me
[13:39] Keshav : i found currency trading to be the most challenging. no true volumes
[13:40] Keshav : currency spot
[13:40] r m : volumes are global in currency and commodities, exchange volumes don’t matter
[13:41] r m : big currency traders monitor global economic & political news
[13:41] Keshav : currency spot is over the counter .
[13:41] Keshav : no exchange involved
[13:42] r m : its price is determined by global currency markets, not by the OTC buyer or seller, that is what I mean
[13:42] Keshav : okay
[13:42] Keshav : yes thats true
[13:45] Shai : 19278: (11:02) Shai :BNF may have a bit more steam left in t for 19240- 19278 by close
[13:45] Shai : NF still behid
[13:49] B N : shai sir – chart say that a dip to 220/200 is on before eod?
[13:50] B N : i sold 277 with sl at 350
[13:50] Shai : has not dipped more than 30 points since 10.30
[13:51] Shai : max can be 60 in that case
[13:51] B N : ok
[13:51] Shai : RM what will be MO now?
[13:51] B N : so book at 220
[13:51] r m : will check
[13:52] r m : 70
[13:52] Shai : 19344 and 8510 could be MOn open targets or even 1st session
[13:52] Shai : Thanks RM
[13:53] r m : adv/dec 1146/287, dec volumes 9%
[13:53] r m : welcom
[13:58] B N : 278-30 = 248 / shai sir first obstacle cleared – now 30 more to 218
[14:00] Amit J : shai your view on idbi?
[14:00] B N : and 30 more will get 188 to IBH
[14:00] Rav : How to know subscription renewal due date. Will I get mail?
[14:01] Keshav : pls mail me too
[14:02] Shai : idbi volumes are good
[14:02] Shai : could be the much awaited breakout
[14:02] Shai : tgt could be 86 if the move sustains on MOn
[14:03] Shai : sl below 74 in that case
[14:03] Rav : Shais T will reach today itself
[14:03] Shai : Yes Ravi you will get a notification when due
[14:04] Rav : Thanks
[14:04] Keshav : @shai candle looks good on weekly too
[14:04] Keshav : IDBI
[14:04] Shai : yes
[14:05] Keshav : take yesterdays vwap as sl??
[14:06] Amit J : also your view on dhanlaxmi bank sir. its a multi multi bagger
[14:21] B N : (13:58) B N:278-30 = 248 / shai sir first obstacle cleared – now 30 more to 218
[14:21] B N : sir i am kept the buy order in system
[14:21] B N : 218
[14:22] B N : executed – thnxs shai sir
[14:22] Keshav : nice BN
[14:23] Keshav : i really wonder the time frame of your charts
[14:25] B N : but a touch to 188 will be nicer
[14:29] B N : rm sir 188 hitted
[14:30] r m : @B N, Sir, thou are the greatest!
[14:31] B N : (13:50) Shai :has not dipped more than 30 points since 10.30
[14:31] B N : i am counting in multiple of 30 from 278 – so first 248/218/188 – all three coming – shai sir’s levels
[14:32] r m : looks like someone else is counting too – 14:25:53 19198.85 10050 (402 lots)
[14:33] B N : sold or bought – can it be known?
[14:33] r m : on my system it is showing at bid
[14:34] r m : sell i mean
[14:34] Keshav : @rm ninjatrader??
[14:34] B N : ok so mkt may go down from here now for the rest of the month
[14:34] B N : we have made the series high?
[14:35] r m : @Keshav, yeah, but ask/bid data is captured from NEST not really tick data
[14:35] r m : @B N, your namesake is at ATH
[14:35] r m : 🙂
[14:36] B N : sir u have a whacky sense of humour with wryness and astutism blended in the concoction
[14:36] r m : @B N, sir, you make me sound like banana shake 🙂
[14:37] Keshav : when ever bn types something i keep a dictionary and start searching for meaning
[14:38] r m : lol
[14:38] Keshav : @rm that really sounds like banana shake . lol
[14:39] r m : 😀
[14:39] Amit J : shai close near days high?
[14:39] Rav : Janak is not spotted for long
[14:42] Shai : Amit may close here at vwap or 8455
[14:43] Amit J : ok thanks
[14:43] B N : shai sir outside chance of closing at day low 8288?
[14:45] Shai : dhanbank 45.2 res in cash
[14:46] Shai : can run up to 52 if crosses
[14:46] Shai : 42.7 now supp
[14:46] Shai : bit extended to make new buys now
[14:46] Shai : BN Not today
[14:46] Shai : 8370 support on spot
[14:55] Keshav : @shai what does all the negative delta in nf mean??
[14:55] Shai : Keshav see it as a long BNF short NF trade pair
[14:55] Shai : anyone heard of a PM news conf at 7 pm today?
[14:56] Keshav : nope
[14:56] Shai : that’s what I told- if Modi wants to do a presser at 7 people will know at 3
[14:57] Shai : seasonality wise we head into a tough 2 weeks for bulls from 5th Jan
[14:57] Shai : that period is known to give bear swings : Jan 5 to Jan 20
[14:57] RK : till budget session we will have many news on the air
[14:58] Keshav : oh
[14:58] Shai : true RK
[14:58] r m : Amit Shah is holding a presser at 15:3
[14:58] Shai : Bull markets are full of rumors 🙂
[14:58] RK : hope that would be bearable- i mean bear swings as well as news swings 🙂
[14:58] r m : Modi prefers twitter 🙂
[14:58] Keshav : i never paid attention to fundamental that much
[14:58] B N : but banknifty may just have a 500 pts gapup around 19700 and then 20k in a day or two
[14:59] Keshav : i prefer to follow people on twitter too
[14:59] RK : Keshav but mkts pay attention thats the problem with our positions
[15:01] RK : we need zen attitude in bull market and samurai attitude it bear market
[15:02] Keshav : @bn do you also trade crudeoil?
[15:07] Keshav : i kind of have a feeling that bn is our latest janak
[15:07] Rav : same here
[15:08] RK : am still wondering since morning what made him to go with long position at 890 amid such low volumes this week? :))
[15:09] Shai : big change in responsive buyers from vwap
[15:09] Shai : net delta at 344K
[15:09] r m : @RK, he is long since yesterday I think
[15:09] Shai : looks like some intsitution got in
[15:10] Keshav : oh nice
[15:10] B N : rk sir – i kept my long position at 890 from wed
[15:10] RK : yes RM yday was the lowest volume day in this week if am correct
[15:10] B N : 1st / 2nd January – mkt always rises – so it is a safe trade
[15:10] Shai : 8455F
[15:10] RK : B N pls cut Sir part pls 🙂
[15:10] Rav : IT Buying heavily
[15:11] RK : thanks B N for announcing the logic 🙂
[15:11] r m : but BN made many 40-50 points intraday trip, guess he made a big cushion for his longs yesterday 🙂
[15:11] Keshav : @janak there??
[15:12] r m : @RK, one of the interesting point about low volume is that it generates D shaped profiles which breaks out big!
[15:12] Keshav : hmm
[15:12] RK : agreed RM..low range also there paving way for quite a nice break-out..
[15:13] RK : but sometimes it turnout to be two side sword..hits both boundaries to make you quit 🙂
[15:14] Keshav : @rm i wonder if i have to take admission in the dehradun scalping school for such 40-50 points intraday picks
[15:14] r m : yes, that happens most of the times RK 🙂
[15:14] Shai : close not at day high but in the upper quarter
[15:14] RK : thats the reason not entered into any trade this week 🙂
[15:15] r m : @Keshav, only scalping school is run in Pondy 🙂
[15:15] Shai : could be the weekend effect on low volume positions made during the week
[15:15] RK : true Shai..all small players taking their new year gains happily home 🙂
[15:16] r m : once above 18960, race to 23rd high was swift http://screencast.com/t/5JhmfbKlo4
[15:17] RK : Yeah RM I was late today and when logged in I was welcomed with those steep step candles 🙂
[15:18] r m : lol
[15:19] Porus : Shai, is your view of 19344, 8510 for Monday still on?
[15:20] Shai : yes
[15:20] Shai : Mon could be a 2 sided day
[15:21] Keshav : seems like
[15:26] RK : on the trending days you can trust VWAP for positioning yourself..it helps better than brother
[15:27] Keshav : then m nicknaming my brother as vwap
[15:29] Shai : smart move in closing mins
[15:29] Rav : 8400pe writing
[15:29] Shai : NF fell short of the obj at 9498
[15:30] Shai : 8498*
[15:30] Shai : BNF did it at 19278
[15:30] Shai : on a multi day tf there is some more room to move up
[15:30] Shai : But MO at 65+ would sau no fresh longs early next week
[15:30] r m : Thanks and bye folks, have a great weekend 🙂
[15:30] Shai : Bye all
[15:31] RK : thanks and bye all
[15:31] Shai : Have a nice evening
[15:31] r m : oops
[15:31] Keshav : @shai how to read mo
[15:31] Porus : bye all
[15:31] Keshav : i am just seeing it as momentum indicator
[15:31] Keshav : how values matter
[15:31] Shai : Keshav it is excellent for assessing risk reward
[15:31] Shai : see the chart posted by RM
[15:32] Shai : avoid shorts below -65 and longs abv +65
[15:32] Keshav : okay
[15:32] Shai : it does not go beyond- 80 and +80
[15:32] Keshav : oh oka
[15:32] Shai : and can be used for couter trend trades wih a weekly outlook
[15:33] Shai : MO was at -8 when NF was dipping at 7960
[15:33] Keshav : if it goes over the 80 point mark?
[15:33] Shai : -80**
[15:33] Keshav : okay
[15:33] Shai : then mkt may come off in a day or 2
[15:33] Keshav : sounds interesting
[15:34] Shai : Happy weekend everyone
[15:34] Shai : catch up n Mon
[15:34] Keshav : good day all
Date and Time: January 02, 2015 09:22:40[08:52] r m : Good Morning folks!
[08:53] r m : http://vtrender.com/levels-and-plan-for-020115/
[08:53] r m : http://vtrender.com/premium/orderflow-charts-and-notes-0101/
[08:53] Porus : GM all
[08:53] r m : NF Hypo1 below 8336➜8313➜8285 SL8357 Hypo2 above 8358➜8381➜8423 SL 8337 JAN Future levels
[08:53] r m : BNF Hypo1 above 18870➜18930➜19030 SL 18835 Hypo2 below 18830➜18790➜18720 SL 18884 JAN Future levels
[09:08] Keshav : morning all
[09:12] Rahul G : Gm all
[09:13] Sharad : GM all
[09:19] r m : NF at hypo1 target 1 in 4 minutes!
[09:20] Rav : bnf footprint is having some blocks
[09:33] r m : bnf at target2
[09:39] r m : nf close to target2
[09:40] r m : nf at target2
[09:44] r m : NF Jan hourly http://screencast.com/t/phbfmmT0
[09:44] r m : 8439 next
[09:50] Rav : 8000-8300 PE Magic
[09:51] Keshav : now i am beginning to understand a bit
[09:51] Keshav : here
[09:53] Keshav : today the oi change graph is totally inverted is
[09:53] r m : @Rav 🙂
[09:54] Rav : sc for ce writers
[09:54] Keshav : and for pes?
[09:55] Rav : 40-50% profit for pe writers
[09:55] r m : @Rav, you spotted it very well and quite early, that 8320 spot came quickly!
[09:56] Rav : today, I did not take nf and bnf to be frank bur booked positions
[09:56] Rav : but
[09:56] r m : ok
[09:57] Keshav : http://imgur.com/fGLK4JQ
[09:57] r m : spot near previous peaks http://screencast.com/t/E7XiktnF8M
[09:57] Keshav : update on price channel
[09:58] Keshav : break above the channel is a bullish scenario
[09:58] Rav : now huge shortcovering may set in
[09:59] r m : Thanks Keshav, which data vendor you are using?
[09:59] Keshav : then we could count on this swing for some more points on the upside
[09:59] Keshav : its called shareking
[10:00] Keshav : but data is slow
[10:00] r m : ok
[10:02] Rav : bnf is likely to to hot 19225 as sc set in
[10:06] r m : BN is at ATH again, it happens regularly with BN, it has more faith in Modi then Rajan 😀
[10:09] Rav : most of the heavy weight stocks option PCR is violating
[10:09] Keshav : @rav but the option pain for both nifty and bank nifty below its current trading price
[10:10] Keshav : does it offer any learning when combined with OI
[10:12] Keshav : i guess today the volumes came back
[10:12] Rav : ITC RIL not moving but banks comp hdfcbank,sbi,axis,icici crossed pcr limit .
[10:14] Rav : bnf adx is 70
[10:26] Keshav : http://imgur.com/zluC2Q3
[10:26] Keshav : this is how bnf is shaping out
[10:27] Keshav : we are yet to see a retracement back to vwap
[10:28] Keshav : so strong ride till now
[10:28] r m : Thanks Keshav
[10:28] r m : IB is big, so chances of a retreat to vwap for NF
[10:30] Keshav : hmm
[10:35] Rav : bnf adx at 75 !!
[10:35] Keshav : which time frame??
[10:40] Rav : 5 min
[10:53] Shai : GM all
[10:54] r m : GM Shai, Happy New Year 🙂
[10:54] Porus : Welcome back Shai
[10:54] Shai : Wish you all a happy new year 2015
[10:54] Shai : GM Rm- Thanks
[10:54] Keshav : wish you the same shai
[10:54] Shai : Thanks Porus
[10:55] Shai : fantastic move today in NF and BNF
[10:55] Shai : open drive off a multi day balance zone
[10:55] Shai : would have caught many by surprise
[10:55] r m : yeah, like a pressure cooker lid blowing off!
[10:58] Rahul G : gm shai
[10:58] Shai : GM Rahul
[11:02] Shai : BNF may have a bit more steam left in t for 19240- 19278 by close
[11:02] Shai : sl is 19150 last low , but vwap is better
[11:03] Rahul G : shai but the delta in NF is -ve and in BN not too great
[11:03] Shai : Morning NF longs have gone off in NF
[11:04] Shai : But BNF still holding
[11:04] Shai : hence mentioned BNF only
[11:05] RK : Hi Shai GM, Welcome back and Happy New year :)) # assortz here sacrified alias name 🙂
[11:05] RK : Hi RM and all good morning 🙂
[11:05] Keshav : morning rk
[11:05] Shai : GM RK- thanks and wish you more of the same
[11:06] r m : Hi RK 🙂
[11:07] RK : RM what a move today..was expecting another low volume boring day:)
[11:08] r m : 2nd Jan funds are back with a bang usually!
[11:08] Shai : vol is laready better than yesterday
[11:13] Shai : 8426- 8435 supp band now in NF
[11:14] Shai : as long as we stay above that a small possibility that we now close the weeek at highs
[11:14] Shai : possibly at 8498F
[11:14] Keshav : hmm
[11:14] Shai : looking at 19280 closing in BNF
[11:15] Keshav : @shai what if we go to vwap? even then a upmove is possible givn the morning stregnth right?
[11:18] Shai : yes
[11:18] Shai : an Open drive led by buyers will look to defend vwap
[11:18] Shai : but pace of the move up drops below IBH
[11:19] Keshav : oh. sounds logical. new learning
[11:19] Shai : the move led by BN
[11:20] Shai : could be to do with the meet in Pune on banking
[11:20] Keshav : hmm
[11:27] Shai : short term intra focus 19155 ad 8432 IBH
[11:28] Shai : looks like buyers not interested to pursue the move further up though , but not enough sellers here
[11:28] Keshav : hmm
[11:28] Shai : so we may grind in a P till 1-30 to 2now
[11:29] Shai : “Short Term : (On spot prices)The Nifty has managed to stay above the longer time frame supply at 7920- 7940 spot. This region is also now new support over the short term. Over the coming week resistance likely to build at 8351- 8399 spot . Support would be at 8125 during the week. ”
[11:30] Amit J : welcome
[11:30] Shai : 8147 low and 8380 res nowon spot
[11:30] Shai : Thanks Amit
[11:31] Shai : move is to 8448 spot if we scale up
[11:32] Shai : in line with the 8498 F spoken of earlier
[11:43] Shai : call writers closing positions
[12:13] Shai : http://screencast.com/t/pGxEHewxwCc
[12:18] Shai : That move to 8456 met with immediate sellers
[12:26] Shai : looks good tp close now at 8498 F
[12:26] Shai : 19278 BNF still a tgt
[12:26] Shai : 19155 holding from 11
[12:27] Shai : (11:13) Shai :8426- 8435 supp band now in NF. (11:14) Shai :possibly at 8498F
[12:27] Shai : (11:14) Shai :looking at 19280 closing in BNF
[12:34] Shai : 8399 spot is vwap of Nov
[12:35] Shai : all clear abv 8399 for an immediate run to 8448 spot
[12:46] Shai : trend day playing out now and both indices in sync
[12:46] Shai : abv IBH that is
[12:47] Shai : 8399 SPOT
[12:51] Shai : trend day dip should come between now and 1.40
[12:52] Shai : that will be the final buy for a close at the highs later today
[12:52] Porus : Shai, roughly how far does the dip go?
[12:53] Shai : about twice the max drop of the day
[12:53] Shai : it’s been only 8 points of dips from 11
[12:53] Shai : and 15 is max
[12:54] Shai : so should not be more than 32 points from 8462
[12:54] Porus : ok
[12:54] Shai : that will still keep IBH and vwap intact
[12:54] Shai : and is a buy opp with a good r/r
[12:55] Shai : on the medium term play – NOv was an uptrending month and dec a down trending one
[12:56] Shai : vwap of nov is 8399 and that of dec was at 8321 spot
[12:56] Shai : so abv 8399 spot all buyers bcak in firm control
[12:58] Porus : Shai, is a dip expected in bnf too?
[13:07] Rav : 8400pe writing is on
[13:07] Rav : Max pain shifted to 8400 from 8300
[13:07] Keshav : yes. good nos
[13:10] Rahul N : @shai.. i have long position in yes bank futures form 747, where should i book?
[13:10] Shai : BNF looks more stable from open
[13:10] Shai : good delta in BNF
[13:11] Shai : Porus yes, but not a short opp
[13:11] Shai : don’t short on trend days
[13:11] Keshav : @rav my option oracle points at 8300
[13:13] Shai : Rahul good trade
[13:13] Rahul N : tnx
[13:13] Shai : 794 F is the price objective of the weekly chart
[13:13] Shai : met now
[13:14] Shai : consider booking profits
[13:14] Rahul N : thanks i am placing an order now …
[13:15] Rahul N : also i have bank of india futures long from 297..
[13:15] Rahul N : book here?
[13:17] Shai : yes bankindia too 1st obj 34.5- 316
[13:17] Shai : can book
[13:17] Rahul N : thanks and welcome bavk and happy new year!!
[13:18] Rav : OO takes right from 7000-10000 pc but xl takes near ATM,ITM PC
[13:18] Shai : Thanks Rahul- wish you a happy 2015 too
[13:18] Keshav : okay
[13:20] B N : rrm sir – positional at 18890 got booked at 19250 – thank u sir
[13:22] Keshav : @ bn one good trade
[13:25] r m : @B N sir, Congrats on triple century!
[13:25] Shai : Nice one
[13:28] r m : @Keshav, did you read “One good trade”?
[13:28] Keshav : just added to my library
[13:28] Keshav : is it good rm?
[13:29] r m : yeah
[13:29] Keshav : i am looking for something psychological. no advise rather experiences a trader goes through
[13:29] r m : most of the trading book are that only
[13:30] r m : no trader tells his trading strategy in a book 🙂
[13:30] Keshav : yes, reminiscences of a stock operator was an excellent read
[13:31] Keshav : would love to pick up something like that
[13:31] Rav : http://www.screencast.com/users/Ravicbe/folders/Jing
[13:32] Rav : i am yet to book nf and bnf
[13:32] Rav : kesav option pain eenclosed
[13:33] Keshav : @rav link not working
[13:33] r m : RK sent me a series some time (a couple of years maybe) back a series of interviews by Jack Schwager – Market Wizards, very interesting
[13:34] Keshav : is that a book or a documentary?
[13:34] r m : book
[13:34] r m : 3 or 4 parts
[13:34] Keshav : oh
[13:34] Keshav : will check it for sure. thanks
[13:34] r m : interviews with top traders
[13:35] Keshav : hmm
[13:36] Shai : 1.40 almost and no pull back today
[13:36] r m : one was a currency trader who had screens installed in every room, bathroom, passage of his home 🙂
[13:37] Porus : bnf 19278 target reached
[13:37] Keshav : yes
[13:37] B N : (12:26) Shai :19278 BNF still a tgt
[13:37] B N : shai sir – i sold at 277
[13:37] Keshav : @rm i dont want to end up like that
[13:37] B N : will try for a few
[13:38] r m : @Keshav lol
[13:38] Keshav : but high rise office and penthouse with no electronics would do for me
[13:39] Keshav : i found currency trading to be the most challenging. no true volumes
[13:40] Keshav : currency spot
[13:40] r m : volumes are global in currency and commodities, exchange volumes don’t matter
[13:41] r m : big currency traders monitor global economic & political news
[13:41] Keshav : currency spot is over the counter .
[13:41] Keshav : no exchange involved
[13:42] r m : its price is determined by global currency markets, not by the OTC buyer or seller, that is what I mean
[13:42] Keshav : okay
[13:42] Keshav : yes thats true
[13:45] Shai : 19278: (11:02) Shai :BNF may have a bit more steam left in t for 19240- 19278 by close
[13:45] Shai : NF still behid
[13:49] B N : shai sir – chart say that a dip to 220/200 is on before eod?
[13:50] B N : i sold 277 with sl at 350
[13:50] Shai : has not dipped more than 30 points since 10.30
[13:51] Shai : max can be 60 in that case
[13:51] B N : ok
[13:51] Shai : RM what will be MO now?
[13:51] B N : so book at 220
[13:51] r m : will check
[13:52] r m : 70
[13:52] Shai : 19344 and 8510 could be MOn open targets or even 1st session
[13:52] Shai : Thanks RM
[13:53] r m : adv/dec 1146/287, dec volumes 9%
[13:53] r m : welcom
[13:58] B N : 278-30 = 248 / shai sir first obstacle cleared – now 30 more to 218
[14:00] Amit J : shai your view on idbi?
[14:00] B N : and 30 more will get 188 to IBH
[14:00] Rav : How to know subscription renewal due date. Will I get mail?
[14:01] Keshav : pls mail me too
[14:02] Shai : idbi volumes are good
[14:02] Shai : could be the much awaited breakout
[14:02] Shai : tgt could be 86 if the move sustains on MOn
[14:03] Shai : sl below 74 in that case
[14:03] Rav : Shais T will reach today itself
[14:03] Shai : Yes Ravi you will get a notification when due
[14:04] Rav : Thanks
[14:04] Keshav : @shai candle looks good on weekly too
[14:04] Keshav : IDBI
[14:04] Shai : yes
[14:05] Keshav : take yesterdays vwap as sl??
[14:06] Amit J : also your view on dhanlaxmi bank sir. its a multi multi bagger
[14:21] B N : (13:58) B N:278-30 = 248 / shai sir first obstacle cleared – now 30 more to 218
[14:21] B N : sir i am kept the buy order in system
[14:21] B N : 218
[14:22] B N : executed – thnxs shai sir
[14:22] Keshav : nice BN
[14:23] Keshav : i really wonder the time frame of your charts
[14:25] B N : but a touch to 188 will be nicer
[14:29] B N : rm sir 188 hitted
[14:30] r m : @B N, Sir, thou are the greatest!
[14:31] B N : (13:50) Shai :has not dipped more than 30 points since 10.30
[14:31] B N : i am counting in multiple of 30 from 278 – so first 248/218/188 – all three coming – shai sir’s levels
[14:32] r m : looks like someone else is counting too – 14:25:53 19198.85 10050 (402 lots)
[14:33] B N : sold or bought – can it be known?
[14:33] r m : on my system it is showing at bid
[14:34] r m : sell i mean
[14:34] Keshav : @rm ninjatrader??
[14:34] B N : ok so mkt may go down from here now for the rest of the month
[14:34] B N : we have made the series high?
[14:35] r m : @Keshav, yeah, but ask/bid data is captured from NEST not really tick data
[14:35] r m : @B N, your namesake is at ATH
[14:35] r m : 🙂
[14:36] B N : sir u have a whacky sense of humour with wryness and astutism blended in the concoction
[14:36] r m : @B N, sir, you make me sound like banana shake 🙂
[14:37] Keshav : when ever bn types something i keep a dictionary and start searching for meaning
[14:38] r m : lol
[14:38] Keshav : @rm that really sounds like banana shake . lol
[14:39] r m : 😀
[14:39] Amit J : shai close near days high?
[14:39] Rav : Janak is not spotted for long
[14:42] Shai : Amit may close here at vwap or 8455
[14:43] Amit J : ok thanks
[14:43] B N : shai sir outside chance of closing at day low 8288?
[14:45] Shai : dhanbank 45.2 res in cash
[14:46] Shai : can run up to 52 if crosses
[14:46] Shai : 42.7 now supp
[14:46] Shai : bit extended to make new buys now
[14:46] Shai : BN Not today
[14:46] Shai : 8370 support on spot
[14:55] Keshav : @shai what does all the negative delta in nf mean??
[14:55] Shai : Keshav see it as a long BNF short NF trade pair
[14:55] Shai : anyone heard of a PM news conf at 7 pm today?
[14:56] Keshav : nope
[14:56] Shai : that’s what I told- if Modi wants to do a presser at 7 people will know at 3
[14:57] Shai : seasonality wise we head into a tough 2 weeks for bulls from 5th Jan
[14:57] Shai : that period is known to give bear swings : Jan 5 to Jan 20
[14:57] RK : till budget session we will have many news on the air
[14:58] Keshav : oh
[14:58] Shai : true RK
[14:58] r m : Amit Shah is holding a presser at 15:3
[14:58] Shai : Bull markets are full of rumors 🙂
[14:58] RK : hope that would be bearable- i mean bear swings as well as news swings 🙂
[14:58] r m : Modi prefers twitter 🙂
[14:58] Keshav : i never paid attention to fundamental that much
[14:58] B N : but banknifty may just have a 500 pts gapup around 19700 and then 20k in a day or two
[14:59] Keshav : i prefer to follow people on twitter too
[14:59] RK : Keshav but mkts pay attention thats the problem with our positions
[15:01] RK : we need zen attitude in bull market and samurai attitude it bear market
[15:02] Keshav : @bn do you also trade crudeoil?
[15:07] Keshav : i kind of have a feeling that bn is our latest janak
[15:07] Rav : same here
[15:08] RK : am still wondering since morning what made him to go with long position at 890 amid such low volumes this week? :))
[15:09] Shai : big change in responsive buyers from vwap
[15:09] Shai : net delta at 344K
[15:09] r m : @RK, he is long since yesterday I think
[15:09] Shai : looks like some intsitution got in
[15:10] Keshav : oh nice
[15:10] B N : rk sir – i kept my long position at 890 from wed
[15:10] RK : yes RM yday was the lowest volume day in this week if am correct
[15:10] B N : 1st / 2nd January – mkt always rises – so it is a safe trade
[15:10] Shai : 8455F
[15:10] RK : B N pls cut Sir part pls 🙂
[15:10] Rav : IT Buying heavily
[15:11] RK : thanks B N for announcing the logic 🙂
[15:11] r m : but BN made many 40-50 points intraday trip, guess he made a big cushion for his longs yesterday 🙂
[15:11] Keshav : @janak there??
[15:12] r m : @RK, one of the interesting point about low volume is that it generates D shaped profiles which breaks out big!
[15:12] Keshav : hmm
[15:12] RK : agreed RM..low range also there paving way for quite a nice break-out..
[15:13] RK : but sometimes it turnout to be two side sword..hits both boundaries to make you quit 🙂
[15:14] Keshav : @rm i wonder if i have to take admission in the dehradun scalping school for such 40-50 points intraday picks
[15:14] r m : yes, that happens most of the times RK 🙂
[15:14] Shai : close not at day high but in the upper quarter
[15:14] RK : thats the reason not entered into any trade this week 🙂
[15:15] r m : @Keshav, only scalping school is run in Pondy 🙂
[15:15] Shai : could be the weekend effect on low volume positions made during the week
[15:15] RK : true Shai..all small players taking their new year gains happily home 🙂
[15:16] r m : once above 18960, race to 23rd high was swift http://screencast.com/t/5JhmfbKlo4
[15:17] RK : Yeah RM I was late today and when logged in I was welcomed with those steep step candles 🙂
[15:18] r m : lol
[15:19] Porus : Shai, is your view of 19344, 8510 for Monday still on?
[15:20] Shai : yes
[15:20] Shai : Mon could be a 2 sided day
[15:21] Keshav : seems like
[15:26] RK : on the trending days you can trust VWAP for positioning yourself..it helps better than brother
[15:27] Keshav : then m nicknaming my brother as vwap
[15:29] Shai : smart move in closing mins
[15:29] Rav : 8400pe writing
[15:29] Shai : NF fell short of the obj at 9498
[15:30] Shai : 8498*
[15:30] Shai : BNF did it at 19278
[15:30] Shai : on a multi day tf there is some more room to move up
[15:30] Shai : But MO at 65+ would sau no fresh longs early next week
[15:30] r m : Thanks and bye folks, have a great weekend 🙂
[15:30] Shai : Bye all
[15:31] RK : thanks and bye all
[15:31] Shai : Have a nice evening
[15:31] r m : oops
[15:31] Keshav : @shai how to read mo
[15:31] Porus : bye all
[15:31] Keshav : i am just seeing it as momentum indicator
[15:31] Keshav : how values matter
[15:31] Shai : Keshav it is excellent for assessing risk reward
[15:31] Shai : see the chart posted by RM
[15:32] Shai : avoid shorts below -65 and longs abv +65
[15:32] Keshav : okay
[15:32] Shai : it does not go beyond- 80 and +80
[15:32] Keshav : oh oka
[15:32] Shai : and can be used for couter trend trades wih a weekly outlook
[15:33] Shai : MO was at -8 when NF was dipping at 7960
[15:33] Keshav : if it goes over the 80 point mark?
[15:33] Shai : -80**
[15:33] Keshav : okay
[15:33] Shai : then mkt may come off in a day or 2
[15:33] Keshav : sounds interesting
[15:34] Shai : Happy weekend everyone
[15:34] Shai : catch up n Mon
[15:34] Keshav : good day all