General Chat Transcript
Room Name: Vtrender
Date and Time: August 14, 2014 09:21:18
[09:00] r m : Good Morning folks!
[09:00] Shai : GM all’
[09:01] Shai : http://vtrender.com/levels-and-plan-for-13th-aug-2/
[09:09] r m : WPI and trade balance data at 12:00 Hrs
[09:13] Kathir : Good Morning Shai RM all
[09:13] r m : Hi Kathir
[09:14] Kathir : Is the vah vall gets updated only after market opens?
[09:15] r m : yes
[09:16] Kathir : ok sir
[09:16] r m : should be approx 7720-7740-7754
[09:16] r m : and 14880-14920-15000
[09:16] Kathir : ok thanks
[09:17] Shai : 7753-7747-7719 values
[09:17] Shai : imp today for bias
[09:19] Shai : BNf holding 14950
[09:20] Shai : may like to do 15030/50- sl below 14940
[09:22] Shai : locals only 1st 7 mins
[09:22] Shai : no otf
[09:23] Shai : 15030
[09:23] Kathir : great one shai
[09:24] Shai : those who played for 7774 yesterday with stops at 7690 should consider part booking
[09:24] r m : fast delivery 🙂
[09:25] Shai : OTF came just after I said they were not there 🙂
[09:25] r m : lol
[09:25] Kathir : lol
[09:25] Kathir : they responded to shai immediately
[09:26] Shai : some sellers are still here
[09:26] Shai : 7774- 7784 zone
[09:26] r m : can go long above 7785 for 7811?
[09:26] Shai : yes
[09:26] r m : Thanks
[09:27] Kathir : shai i booked the 7800 Ce here..thanks
[09:28] Shai : turning into a drive-
[09:28] Shai : welcome Kathir 🙂
[09:33] Shai : keep sl below 7770 for new longs at 7785+
[09:33] r m : Thanks
[09:33] Shai : move is based on covering of shorts
[09:34] Shai : Auction has been about pushing sellers upwards rather than new buys at higher levels
[09:34] Shai : Bulls are buying dips
[09:34] Shai : not purchasing highs
[09:34] r m : plenty of red at IBH
[09:35] Shai : If price stays up they feel the heat as we are abv value and pdh
[09:35] r m : ok
[09:36] Shai : sl is just below pdh and vwap
[09:36] Shai : as below that we dive stright to vah
[09:36] r m : yeah, even vwap is at 7775 now
[09:37] Shai : can also exit trade at cost here as OF is not confirming it from risk reward pers
[09:37] r m : ok
[09:39] r m : it seems like there is a gap in BN between 14990 and 15015?
[09:46] r m : it jumped from 14988 to 15026
[09:46] r m : chances of intraday gap fill
[09:47] r m : but that algo at 15023 should protect
[09:47] Kathir : in that case you we have 80% trade also 🙂
[09:47] r m : yes
[09:48] Kathir : yest 80% helped me to exit the short position which i had as hedging
[09:49] r m : great!
[09:49] Kathir : covered near val and sold again above 50 points..
[09:49] r m : today VAL is at the same position as it was yesterday
[09:49] Kathir : ok
[09:49] r m : vow!
[09:50] Kathir : 50 points profit is more than ok for me daily 🙂
[09:50] r m : Now I’ll have to come to Coimbatore for BNF trding apprenticeship 🙂
[09:50] r m : sure
[09:50] Kathir : welcome 🙂
[09:51] Kathir : no fees for you 🙂
[09:51] r m : great!
[09:51] r m : filter coffee free as well 🙂
[09:51] Kathir : sure i know you like filter cofee very much
[09:51] Kathir : coffee
[09:52] Kathir : filter coffee idly sambar you can taste as mch you want
[09:52] r m : here I have to drink that regurgitated (instant) coffee 🙂
[09:52] Kathir : moslty people now preffer instant food items only
[09:53] Kathir : they say this is a fast world 🙂
[09:53] r m : yes but too much difference in coffee taste, half the aroma disappears in the process of creation of instant coffee powder
[09:55] Kathir : lol
[09:55] Kathir : @RM now we speak more about coffee than bnf class 🙂
[09:57] r m : lol
[09:58] Kathir : ge you can prepare filter coffee using that filter coffee maker…
[09:58] Kathir : if you need one i can send you sure
[09:58] r m : yeah, but consumption at home is only two cup per day, i guess that is useful only if one makes at least 10 cups a day?
[09:58] r m : coffee maker available here too
[09:59] Kathir : yeah true..even small cups available i guess
[09:59] r m : plenty of south indians work in defence organizations here
[09:59] Kathir : ok
[09:59] r m : ok, will try for small ones
[09:59] Shai : IT up bnf down
[09:59] Shai : How often have we seen that
[10:00] Shai : new week highs on CNXIT and bnf near week lows
[10:00] Kathir : week low is 740 right?
[10:00] Kathir : 14740
[10:01] r m : 756
[10:01] r m : even that happened on Friday, technically last week
[10:02] Shai : 14850
[10:02] Kathir : ok
[10:02] Kathir : bnf 80 % on
[10:03] Kathir : shai for 80% trade now what will be the SL
[10:03] r m : @Kathir, 14988 was gap fill too
[10:04] Shai : 15061
[10:04] Kathir : thanks shai
[10:04] Kathir : @RM ok
[10:04] Kathir : better wait?
[10:04] Kathir : NF near pdh
[10:05] r m : maybe better to take below 14987, last low?
[10:06] Kathir : yes should be better
[10:09] Shai : vwap under pressure
[10:10] Shai : below 7770 trade is for 7752/ 7740 with sl abv 7785
[10:10] Shai : when open drives do not hold vwap- day lows comes easily
[10:13] r m : bn got buyers at vwap
[10:19] Shai : pdh held barely in NF
[10:20] r m : yeah, buyers lost their enthusiasm
[10:20] Kathir : @RM small inestment ..i am buying nf 7500 pe this month @ 10 trgt 60 -70 ..no SL
[10:20] r m : ok Kathir
[10:21] Shai : It’s about who blinks- (09:34) Shai :Auction has been about pushing sellers upwards rather than new buys at higher levels
[10:21] r m : MO is constantly diverging from Nifty, one side must bend 🙂
[10:24] Kathir : ok
[10:24] Kathir : now whats MO for NF
[10:25] r m : MO is for exchange, -55 for NSE
[10:25] r m : http://screencast.com/t/sEZdAEFG4
[10:25] Amit J : Adv marginally higher than decline
[10:25] r m : I am no good at spotting divergences though 🙂
[10:27] Kathir : ok thanks
[10:27] r m : welcome jee 🙂
[10:27] r m : seems like BNF went back only for filling that intraday gap
[10:30] Kathir : it did that exactly
[10:30] r m : yes, Shai has taught that intraday gaps are always filled 🙂
[10:31] r m : guess we should have shorted when bnf turned pink near 1500
[10:31] r m : 15040
[10:41] Shai : 7786- 7776 – 10 point – 1 hour
[10:41] Shai : Traders have already packed off for the weekend?
[10:42] Shai : Mon I think currencies and bonds are closed at NSE only equity open
[10:42] r m : Camped on Lal Kila grounds? 🙂
[10:42] Shai : so could be another slow day on mon
[10:42] Shai : lol
[10:43] Shai : Modi on air tom for all those who are saying he is not talking much
[10:43] Shai : you should get a earful 🙂
[10:43] r m : lol
[10:43] Kathir : lol
[10:43] r m : the same folks used to complain that he talks too much 🙂
[10:44] Kathir : it is their duty
[10:44] r m : they will get plenty of Modi speeches when election season commences in Maharashtra and Haryana
[10:44] Kathir : then they need few more teams to run behind modi
[10:46] r m : lol
[10:46] r m : journalists are heart broken on not getting free rides on Modi’s foreign trips 🙂
[10:47] r m : they used to get free caviar and liquor earlier on PM’s flight!
[10:47] Kathir : they replied that same people coming repeatedly
[10:47] Amit J : Lot of selling orders at vwap
[10:47] Kathir : more red
[10:47] r m : maybe we get that movement below 7770
[10:48] Amit J : Vwap pdh and poc at same point
[10:48] r m : trinity!
[10:48] Kathir : poc @ 7749
[10:49] Kathir : 7747
[10:49] r m : yes, Amit means dpoc
[10:49] Kathir : ok
[10:58] r m : buyer buyer 🙂
[11:00] Shai : BNf taking a cue from the retreat in cnxit
[11:03] Shai : a buy abv 15085 should bring 15150 sl of 15040
[11:06] Shai : 11 am sectoral- http://screencast.com/t/FVmlmcO3
[11:06] Shai : BNF down except for hdfcbank
[11:10] Amit J : AXIS ALSO GREEN
[11:12] Shai : IBH test should bring buyers back
[11:21] Shai : Nifty spot traders (spot at 7765) will be happy with a close above 7727 today. That puts 7822 spot on the radar still
[11:21] Shai : second line of support is 50 points deeper at 7675
[11:27] Kathir : @RM NF @ 7800 means bnf should be atleast 15400 ?
[11:27] Shai : No Kathir- that is the problem
[11:28] Shai : BNf is not performing and bulls are anxious
[11:28] Shai : No bull run can happen without BNF
[11:28] Kathir : ok
[11:29] Shai : If BNF crossed 15150 today then safe and downside is cut in BNF
[11:29] Kathir : ok..in that case shall we try some if bnf closes above 180?
[11:29] Kathir : some CE
[11:29] Shai : yes
[11:29] Shai : 15500 possible then
[11:29] Kathir : ok thanks
[11:30] Shai : having a long bias now as vah was defended and we are trading abv vwap in BNF
[11:30] Shai : (11:03) Shai :a buy abv 15085 should bring 15150 sl of 15040
[11:32] Kathir : @RM actually bnf unable to trade above 15180 even in sep fut 🙂
[11:33] r m : 🙂
[11:33] r m : 180 has long reaching arms 🙂
[11:36] Kathir : 🙂
[11:36] Kathir : above 15100 bnf comes under selling pressure zone
[11:50] r m : cnxit near day’s low, some chance for BNF now!
[11:55] Kathir : 10:10 Shai : below 7770 trade is for 7752/ 7740 with sl abv 7785
[11:56] Kiran : The BNF OI is incresing since morning
[11:56] Kiran : any clue there ?
[11:57] Kathir : This one RM has to answer
[11:57] Kathir : i dont know much about this 🙂
[11:58] r m : @Kathir, can’t decode that one – intraday OI makes even less sense
[11:58] r m : normally the OI we see here changes EOD
[11:59] Kathir : ok
[12:10] Shai : inflation news
[12:19] r m : 5.19% against 5.10% expectations
[12:20] Shai : Buyers in BNF
[12:20] r m : hope Kathir does not begin selling at 100 again 🙂
[12:21] Kathir : no not this thime 🙂
[12:26] Shai : weekly change chart- http://screencast.com/t/3JbZeHJv1
[12:26] Shai : 7700 ce under pressure
[12:27] Shai : last week if you would recollect 7700 pe was holding when we were down
[12:35] Kathir : Shai under pressure you mean for the people who sold that CE?
[12:37] r m : yep, means bullishness in the air 🙂
[12:37] Kathir : ok
[12:39] Shai : Yes Kathir- it will change in next 3 hours
[12:40] Shai : Just a heads up- weekend inventory
[12:40] Shai : BNF buyers defending 15040- can they get past 15150?
[12:43] Shai : actually there was a lot of buildup in 7700 ce last week and most of that is still holding
[12:44] Shai : that pair was 200 last week- 160 now
[12:45] Shai : I won’t be surprised if we expire at 7700 this series
[12:48] Kathir : ok
[12:55] Kathir : bnf
[12:55] Kathir : above pdh
[12:56] Shai : 15123- (11:03) Shai :a buy abv 15085 should bring 15150 sl of 15040
[12:56] Shai : stops at IBH now- just below IBH
[12:56] r m : ok
[12:56] Shai : 15140- 15180 is heavy artillery zone of the seller 🙂
[12:57] r m : 🙂
[12:57] Shai : they will shoot every bull in sight
[12:58] Shai : Mena while NF is building up longs abv vwap now
[13:01] Shai : NF for 7811
[13:06] Shai : sl is 7767 on NF and tgt of 7811/ 7846
[13:27] Shai : 15130
[13:27] Shai : aaah
[13:28] Shai : 15150
[13:29] Shai : If 15190 crosses we are looking at 15250 immediately and 15400 by Mon / tues
[13:30] r m : tsl at PDH now?
[13:31] Shai : book
[13:31] r m : thanks
[13:31] Shai : let them slug it out
[13:31] r m : 🙂
[13:31] Shai : we can enter either way once this is donwe
[13:31] r m : ok
[13:35] r m : artillery post 🙂
[13:36] Shai : 15180
[13:36] Shai : 🙂
[13:41] Kathir : 11:50 r m: cnxit near day’s low, some chance for BNF now!
[13:41] r m : Guru – gyaan 🙂
[13:41] Kathir : 🙂
[13:45] Shai : yes good 1
[13:46] Shai : BNf meeting heavy seller now
[13:46] Shai : 15120 will mean seller prevail
[13:46] Shai : below 15120*
[13:52] Shai : day range is 51- but it has been a mighty battle above 7770
[13:52] Shai : maybe it must be the 7800 writers
[13:52] Shai : they have prevailed through 2 expiries
[13:53] Shai : OF in NF showing that the seller not letting the bull get away
[13:57] Shai : 7803
[13:57] Shai : have to book once near 7811 and keep stops at 7782 on res
[13:57] Shai : ride the rest- weekend volatility can take this anywhere
[14:04] Shai : http://screencast.com/t/w9dEVj7js
[14:04] Shai : OI weekly change
[14:06] Shai : 15120- 15180 should give 60 either way
[14:17] Shai : looks like USDINR also expecting some good news
[14:17] Shai : at week lows
[14:17] Shai : 60.90 ref area there
[14:25] Kiran : also at 175 BNF
[14:25] Kiran : is it buying or selling ?
[14:25] Shai : sellers
[14:27] Shai : last hour of the week
[14:27] Shai : traders have to plan inventory for a bigger weekend (one extra session)
[14:28] Shai : Market is in imbalance abv 7770 so swings possible
[14:28] Kiran : as shai said 120-180 done
[14:28] Kiran : 60 . but i did not do
[14:29] Shai : No No- I actually menat 60 points if the range breaks
[14:29] Shai : This is a conflict zone- safe traderrs should avoid
[14:30] Kiran : ok
[14:30] Amit J : shai when can we expect IVs to start falling for 3 days close
[14:30] Shai : Buy 7700 Puts if we close on an up- push on poor orderflow closer to 3.20
[14:31] Shai : They fall in last hour but at these levels not much left to fall
[14:31] Amit J : ok
[14:32] Shai : vix 13.38
[14:32] Shai : supp 12.7
[14:34] Shai : The other view is instead of shorts liquidating buyers can book profits and cause NF to come down
[14:34] Shai : either ways 7700 put looks attractive
[14:35] Shai : at 7781 spot we are looking at 7740 or 7700 test again next week
[14:35] Shai : Big 200 point run for the bull from 7611 to 7809
[14:57] Shai : On BN spot cmp 15100 if you can keep a sl at 15185 spot then tgt is 14925 spot for a 14900 or 15000 put
[15:01] Kathir : @Shai if we take 7700 pe today what wil be the SL
[15:03] Shai : 7827 spot Mon
[15:04] r m : 7811 at last!
[15:05] Shai : Oh you waited – I got off at 7807 some time back
[15:05] r m : I got out, tracking academically 🙂
[15:05] Shai : ok
[15:06] Shai : still a seller operating higher
[15:07] Kathir : ok thanks
[15:11] Shai : Kathir- (14:35) Shai :at 7781 spot we are looking at 7740 or 7700 test again next week
[15:11] Shai : Buy suggested near 3.20
[15:12] Shai : Have to get out if 7740- 50 spot shows buyers next week
[15:15] Kathir : yes waiting
[15:16] Kathir : ok
[15:20] Kathir : bought 31.5
[15:22] Shai : selling coming into the close
[15:24] Kathir : PE 3 up now 🙂
[15:24] r m : on expiry day you would have cashed by now 🙂
[15:24] Shai : lol
[15:24] Shai : it may lose 3 over the holiday
[15:24] Kathir : lol
[15:25] Shai : so you need that 40 point move
[15:25] r m : easy come easy go 🙂
[15:25] Kathir : 🙂
[15:30] Shai : Vix is punched so low that writers expecting windfall gains over the holiday will be left disappointed with a small rise
[15:30] Kathir : Happy Independance day
[15:31] Kiran : Have a long holiday.
[15:31] Kiran : bye
[15:31] Kathir : thanks and bye all..have a nice weekend..:)
[15:31] Shai : Wish all of you a Happy independence day and a safe weekend
[15:31] Shai : stay safe . enjoy