General Chat Transcript
Date and Time: May 07, 2015 09:20:23
[08:51] r m : Good Morning folks!
[08:51] r m : http://vtrender.com/levels-and-plan-for-7th-may/
[08:51] r m : http://vtrender.com/premium/orderflow-charts-and-notes-060515/
[08:52] r m : Nifty MAY Future levels| Key Reference Area 8111| Hypo1 above 8111➜8137➜8183 SL 8090| Hypo2 below 8100➜8060➜8005 SL 8117
[08:52] r m : Banknifty MAY Future levels| KRA 17880| Hypo1 above 17880➜17960➜18020 SL 17780| Hypo2 below 17780➜17634➜17568 SL 17895
[08:53] Sumit : GM everyone
[08:53] Porus : GM RM and all
[08:53] r m : Hi Porus
[08:54] Sumit : hi rm, I need a min. of crash course in Desi MO indicator 🙂
[08:54] Sharad : GM and HI all
[08:54] Sumit : what does +70 and -70 signify
[08:55] r m : advance decline ratio has been too high or too low for too long a time 🙂
[08:55] r m : a layman’s description 🙂
[08:55] Sumit : so +70 means down side should come?
[08:56] Shai : GM all
[08:56] r m : yes, longs risky above +60 an vice versa
[08:56] Sumit : ok thanks
[08:56] Sumit : anything else to look for?
[08:56] RK : GM Shai,RM and all
[08:56] r m : Hi RK
[08:57] r m : @Sumit, it is a broader market based market breadth oscilator, useful only at market extremes in my view
[08:57] Sumit : ok. thanks
[08:57] Sudhakar : GM all
[08:57] r m : http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:mcclellan_oscillator
[08:58] r m : http://tinyurl.com/7dg3f37
[08:58] r m : can check this link for further reading on MO
[08:58] Sumit : thanks
[08:58] r m : welcome
[09:01] Sharad : USDINR spike ..low 63.04 … future indication ?
[09:03] Sharad : Shai what is VAL of yesterday… showing wrong
[09:04] r m : 5 minute charts value will update after market open
[09:04] Sharad : ohh ok Thanks RM
[09:04] r m : welcome
[09:05] r m : Results today – Jindal Saw, GE Shipping, Titan, Sintex, Heromotoco
[09:06] r m : Results tomorrow – HUL, PNB
[09:13] Krish : hi
[09:14] r m : Hi Krish
[09:14] Krish : my day 1
[09:14] r m : welcome
[09:14] Krish : let me hope
[09:14] Krish : thank you rm
[09:14] Krish : will look forward
[09:14] Sudhakar : gm all
[09:15] Hemant : GM folks
[09:15] Mahesh : gUdmrng……….
[09:17] Hemant : Shai NF chart not updating it seems
[09:19] Shai : live back on
[09:19] Hemant : Ty
[09:20] Shai : OPen is below range and value
[09:20] Shai : gap fill is 8111 and our KRA on day
[09:21] Mahesh : KK
[09:21] Shai : longs not safe till we auction abv 8111 on intra
[09:26] Shai : Big buyers not seen at Open
[09:26] Shai : could play out as an OAOR between 8060- 8110
[09:26] Shai : Not looking for longs till price confirms abv 8111
[09:29] Shai : 17635 initial supp for the open
[09:29] Mahesh : k
[09:30] Shai : we will go short again at 8080 with 50% qty with sl of 8112 for 8005
[09:31] Mahesh : is that short call active sir
[09:31] Shai : proper short is at vwap tgt 8044
[09:31] Shai : Not active
[09:32] Mahesh : k shai . after cnfrmation i place
[09:32] Shai : go short between 8073- 8080 sl 8110 tgt 8044/ 8005
[09:32] Krish : shai, is that spot reference?
[09:33] Shai : No F
[09:33] Krish : ok
[09:34] r m : @Krish, Nifty & Banknify Future unless specified, stocks cash levels unless specified
[09:37] Shai : shorts active in NF
[09:37] Shai : place sl abv 8112
[09:39] Krish : short executed 🙂
[09:41] Hemant : Shai, is it ok to short a call?
[09:41] Shai : no
[09:41] Shai : wait
[09:41] Hemant : Ok
[09:41] Shai : place sl for NF 3 points higher 8115
[09:42] Sharad : Shai above 8126 80 % possible to 8202 ?
[09:42] Shai : can go to POC
[09:43] Sharad : ok till 8174
[09:43] Shai : yes
[09:45] Vishnu : Shai, what’s rationale behind 811X SL? I’m just going with the logic that no question is stupid question 🙂
[09:45] Shai : previous day low
[09:46] Shai : selllers seen at 8110 buyer operating 8065
[09:47] Mahesh : yes
[09:48] Hemant : Shai, what call should I short if I were to short?
[09:48] Vivek K : mr shai, any view on JSPL?
[09:48] Shai : we will have to exit the short trade at 8080
[09:48] Shai : Hemant best call to short was 8400 ce
[09:48] Hemant : Was? Cant do it now?
[09:49] Shai : can still do
[09:49] Hemant : Ok 🙂
[09:49] Shai : was at 60 plus yesterday when we spke abut it here
[09:49] Shai : spoke*
[09:49] Shai : Exit the NF short trade. we go flat
[09:50] Mahesh : sl hit
[09:51] Hemant : I was holding puts yesterday, today I am playing on shorts hoping premiums will erode
[09:51] Mahesh : it just came to hit sl…..Heeee
[09:54] Mahesh : its showing sellers on high but due to volatility moved faster
[09:54] Varun : @shai whts ystrdays poc?
[09:55] Shai : 8174
[09:56] Shai : shorts will not be easy like yesterday today
[09:56] Shai : but buyers now strnger on day abv 8110
[09:56] Mahesh : bank nifty didnt reacting much but nifty
[09:56] Varun : thanks
[09:56] Mahesh : k
[10:05] Hemant : Should exit longs at 8180 NF Shai sir?
[10:05] Amit J : 80% play?
[10:08] Sharad : yes
[10:11] Shai : yes sl 8099 on day now
[10:12] Shai : may get 8120 again to buy
[10:13] Sharad : big IB
[10:15] Shai : yes IB done
[10:15] Krish : sorry, what is IB
[10:16] Vishnu : n
[10:16] Vishnu : initial balance
[10:16] Krish : ok
[10:16] Vishnu : typically first 30 mins of auction
[10:17] Sharad : 1 hour
[10:18] Mahesh : shorts at this place good
[10:22] Rahul G : rm some days back you were asking shai for entering IDFC
[10:22] Rahul G : I guess the levels are here 🙂
[10:22] Shai : seliing at the very top
[10:23] Shai : very two way mkt now with a slight edge to the buyers abv 8100
[10:23] Shai : don’t think 20 point stops will work well in NF today, so mind the stops
[10:23] r m : yes Rahul, IDFC at buy levels from yesterday 🙂
[10:24] Amit J : shai both nifty spot and banknifty spot were at your medium term levels today at low
[10:24] Shai : yes Amit
[10:24] Shai : But overhead selling is really worrying
[10:25] Shai : lots of sellers packed over 8400- 8500 now
[10:25] Krish : mean, will go to that levels 8300+
[10:25] Amit J : yes but as you mentioned yesterday close that we would see a bounce today post open
[10:26] Amit J : how much bounce can be expected
[10:26] Mahesh : why one hour particularly
[10:27] Shai : Buy NF cmp sl of 8100 tgt 8157/ 8174
[10:27] Shai : Amit max 8250 F
[10:27] Krish : ok
[10:27] Amit J : ok
[10:28] Shai : spot traders watch 8135 today for closing abv to feel safe on bull side
[10:28] Shai : then can rise up 100 points to maybe 8230 spot again
[10:45] Shai : more evidence of 2 way moves – reduce qty size today- (10:23) Shai :very two way mkt now with a slight edge to the buyers abv 8100
[10:49] Shai : longs stopped out
[10:53] Shai : 90 points doe in the day either side of 8100
[10:53] Shai : now auction centers at vwap reducing edge for new intra positions
[10:53] Shai : done*
[10:55] Hemant : Shai sir, should short a put here if this is range bound and tgt is 8230 spot today or tomorrow?
[10:56] Shai : But downside is not protected still
[10:56] Shai : you will have to buy a covering put
[10:56] Shai : shorting calls still better abv 8300
[10:57] Mahesh : can u suggest best stoplevel for longs
[10:57] Shai : day low or 8044 F
[11:02] Mahesh : k sir
[11:11] RK : Shai next major support for DR pls
[11:12] Shai : Sell BNF in 2 parts at 17670 and at 17710 sl of 17765 tgt 17570
[11:13] Shai : more active sellers in BNF today
[11:13] Shai : can do 17483 F before Mon
[11:15] RK : when indices are moving rapidly one way, Shai has lesser stock queries # pattern :))
[11:15] Shai : supp 3264 and 3226 dr
[11:15] RK : thanks
[11:15] Shai : lol RK – noticed that as well 🙂
[11:16] RK : either they are in full profit with holding or no way to enter any 🙂
[11:18] RK : Shai its resting around 3264 now..structure can drive it to 3226 today?
[11:19] Shai : yes
[11:19] Shai : looks more likely
[11:20] RK : thanks
[11:20] Sudhakar : shai any trade on sunpharma
[11:20] Shai : shorts alos the rise with sl of 3317
[11:20] RK : fine
[11:23] Shai : sunphama not seeing a good position here
[11:24] Shai : area sround 920 is being defended but seller stronger up at 955
[11:25] Sudhakar : thanks shai
[11:36] Vishnu : Kotak – see downside more than 1320?
[11:42] Dharamveer : shall we book bn at 17570 or trail till 17483
[11:43] Vishnu : *1308
[11:48] Shai : 570 intra tgt
[11:48] Shai : 17483 positional view
[11:49] Shai : 1304/ 1308 Kotak good supp in cash
[11:50] Shai : Book 50% BNF at 17630 . keep sl on bal at 17710
[11:51] Shai : that open supp of BNF near 17630 and hypo2 est is holding up price move
[11:59] Shai : finally goes
[12:01] Dharamveer : its not refreshing sir
[12:02] Shai : ?
[12:10] Shai : If having a problem with the room logoff and clear all cookies in your browser and relogin or try another browser
[12:10] Dharamveer : yes did and started working
[12:12] Shai : 17635 res now on intra
[12:13] Shai : check on flash at this link : http://support.omnovia.com/support/solutions/articles/5000601840-system-requirements-for-omnovia
[12:16] Shai : BNF book out
[12:17] Shai : can still do 17526 on intra but may bounce up to 17650 F again
[12:26] Hemant : What about NF ?
[12:26] Hemant : Can go above 8120?
[12:27] Shai : NF not very clear to me here
[12:27] Shai : hence avoiding new trade
[12:28] Shai : below 8044 will drop 40 points quickly to 8005 and 7974 F sl of 8065
[12:28] Hemant : Spot or NF?
[12:28] Hemant : Got it, missed the F
[12:29] Shai : NF big seller
[12:29] Shai : BNF selling off
[12:30] Shai : 8044
[12:33] Shai : 8058 is a buyer again
[12:33] Shai : algo battles in NF
[12:34] Shai : short is right in BNF
[12:34] Shai : we will look for anoher opportunity to place a new short near 17570
[12:46] Shai : BNF seeling big short buildup again
[12:46] Shai : This vlume i=has just taken the objective down to 17200 F
[12:46] Amit J : shai FA possible?
[12:47] Shai : NF yes if buying comes
[12:47] Shai : Vol is 25 L in BNF with 3 hurs to go
[12:50] Varun : @shai whats vwap for today in nf?
[12:50] Shai : 8094F
[12:51] Shai : 17621
[12:51] Varun : thanks
[12:57] Shai : vwap
[12:57] Shai : head spinning moves today Up n down 🙂
[12:59] Hemant : 🙁 theses algos are screwing each other and us too
[13:04] Vishnu : BNF near intra day res
[13:24] Hemant : Can spot breach 8000 today?
[13:26] Shai : Sell NF again 17470 and another part at 17540 sl of 17620 tgt 17260
[13:27] Shai : BNF**
[13:27] Shai : Hemant can if we break 8055 add below 8044 F
[13:29] Hemant : Probability is high ?
[13:30] r m : (12:28) Shai :below 8044 will drop 40 points quickly to 8005 and 7974 F sl of 8065
[13:31] r m : better to take below 8044, stop is not big
[13:32] RK : RM problem is if your stop would gets filled :). another Jackie chan day 🙂
[13:32] r m : lol
[13:32] Hemant : 🙂
[13:32] r m : I like his reverse jumps when he climbs one story while jumping back 🙂
[13:33] r m : never thought of a stop loss simile though but it is a perfect one 🙂
[13:33] RK : yes we all 🙂
[13:36] Shai : don’t add that other hal in BNF yet
[13:36] Shai : if in the second half exit n wait
[13:43] Shai : Per profile BNF may close at lows today
[13:43] Shai : But this 2 pm popup may go to 17615 hence the caution on second half
[13:43] Shai : we can add that back once the way down confirms
[13:45] Shai : my other worry is that we are already 1200 points down in BNF in 2 days
[13:45] Amit J : banknifty is at 200 dma
[13:46] Amit J : 17522
[13:46] Shai : ok
[13:57] Shai : We will stay with 50% qty on the BN trade. will close at 3.20 pmor tgt
[13:59] Shai : NF weakening
[13:59] RK : Amit any idea about Hero results timing?
[13:59] Shai : Flush out of the 2 buyers at 8058 on cards
[14:00] Amit J : around 3
[14:01] Amit J : should be during mkt
[14:01] Sudhakar : shai any trade on ACC
[14:01] RK : thanks
[14:03] RK : +ve bias Amit?
[14:03] Amit J : no bias
[14:04] RK : ok
[14:06] Shai : acc good buy with 1422 sl tgt is 1466 and 1472
[14:06] Sudhakar : thanks shai
[14:08] Shai : here is that flush out : (13:59) Shai :Flush out of the 2 buyers at 8058 on cards
[14:08] Shai : watch 8044
[14:13] r m : @RK, your Jackie Chan!
[14:13] RK : yeah 🙂
[14:14] Dharamveer : Sir can carry Bn today short of small protion or book at 17260
[14:16] Shai : can hold – nthing yet to point a reversal
[14:17] Shai : I thought the bull will come at Open today and Put NF above 8114F all day but except for that 20 min move abv 8144 we have stayed below
[14:18] Shai : it just points to more downside
[14:18] Shai : NOw NF can do 7974 F
[14:35] Shai : BNF just ready for that last hour move
[14:35] Shai : have seen it do do 120- 180 easily
[14:36] Shai : yesterday was 750 points today already 400
[14:38] Dharamveer : what is the nexttarget after 17260
[14:41] Shai : I don’t have proper Fut value since we have not traded here for long but look at 17090 and 16370 spt as potentail points
[14:42] Shai : If you are a positional player in between you will get intra day rises- watch these rises for mvement abv vwap and vah
[14:43] Shai : stayung below vwap and vah- seller in control of trend
[14:45] Dharamveer : Can you give SL for nifty Positl sellona
[14:45] Shai : 100 points up on intra day trade- if not wanting to trade last hour can book fully- (13:26) Shai :Sell NF again 17470 and another part at 17540 sl of 17620 tgt 17260
[14:48] Shai : Nifty positional sell valid till next weekend is 8230 spot
[14:48] RK : 8000 gone in spot
[14:48] Shai : 17286
[14:49] Hemant : 8001 again..
[14:49] Hemant : Folks trying hard to salvage
[14:49] Shai : keep 8005F in sytem to close
[14:55] Hemant : GST didnt seem to help
[14:57] Shai : high then was 8122- (10:28) Shai :spot traders watch 8135 today for closing abv to feel safe on bull side
[14:57] Shai : Nothing done by bulls
[14:57] Shai : bounce here will be more a relief bounce than any serious buying
[14:58] Shai : This weekly close if it comes below 8060 spot changes things also for the year
[15:01] Amit J : shai close at days low in bn?
[15:03] Shai : BIG BUYER
[15:03] Shai : yes bnf can close at lows
[15:06] Vishnu : any reason for discounting big buyer’s action to not change stance in your view?
[15:06] Amit J : tom is gst, may be this are insiders
[15:07] Mahesh : 8000 is psycological mark so with little stops we can take buy as said by sahi
[15:07] Shai : emotional respnse to 8000 mostly
[15:07] Dharamveer : Do you think congress will let the bill pass in rajyasabha
[15:07] Shai : NF exit shorrts
[15:07] Shai : can do 8127
[15:08] Mahesh : ya
[15:09] Amit J : possibility is very high
[15:09] Shai : BNF also close all intra left if any
[15:09] Shai : ran short by 25 points
[15:09] Shai : push is higher into close
[15:10] Vishnu : hi. 17470 thick blue. what level is that?
[15:11] RK : Shai ran short by 1 point for me..17285.1 was my order 🙂
[15:11] Varun : @rm whats mo today?
[15:12] Dharamveer : What is that somuch buyinh happening is something fishy
[15:12] Shai : 17470 is dpoc
[15:12] Shai : day highest vol
[15:14] RK : saving 8060 spot
[15:14] r m : @Varun -42
[15:14] Varun : thanks
[15:16] Amit J : congress walked out in lok sabha and made it intension clear that they want bill to be passed
[15:17] Vishnu : want or donn’t want?
[15:18] Shai : but even with them in house it would have still passed no?
[15:19] Amit J : if they move out than nos required reduces
[15:19] Mahesh : covering
[15:19] Dharamveer : Is it a bounce to fool the traders to lock them long or real bounce
[15:19] Shai : rule of thumb – relief rallies get sold
[15:20] Shai : we dropped 355 points straight in 2 days
[15:20] Shai : 100 up now
[15:21] Shai : Bears will get great pleasure in closing just below 8000 tomorrow and spike it up from Mon
[15:23] Dharamveer : Acc met the target 1466
[15:23] r m : @Amit, their intetion is to send it to select committee in Rajya Sabha where NDA does not have even majority, leave aside 2/3rd
[15:30] Ashish : Bye all
[15:30] RK : spot below 8060
[15:30] r m : Thanks and bye folks, have a great evening 🙂
[15:30] Hemant : Ty folks
[15:30] RK : bye all
[15:30] Vishnu : Bye all. have a good eve
[15:31] Shai : Bye all
[15:31] Shai : Have a nice evening
[15:31] ramesh srinivasan : good session shai.quite impressed shall talk to you
[15:32] Mahesh : bye all
[15:32] Sudhakar : bye all
[15:34] Porus : bye all