General Chat Transcript
Room Name: Vtrender
Date and Time: August 06, 2014 09:22:22
[08:55] r m : Good Morning folks!
[09:00] Shai : Gm all
[09:01] Shai : http://vtrender.com/levels-and-plan-for-6th-aug/
[09:06] r m : SBI results on 8th August
[09:10] r m : pre-market suggests open at 7750/15300
[09:11] Kathir : GOOD MORNING Shai RM all
[09:14] r m : Hi Kathir
[09:20] Shai : Open near the critical 7740- 7746
[09:21] Shai : No follow up on Neutral extreme
[09:22] Shai : could swing 7706-7746 or 7746- 7784 with 7746 being pivot
[09:26] r m : NF seems to have more blue
[09:27] Shai : yes buyers
[09:28] Shai : vwap/dpoc centered so OTF not in
[09:28] r m : ok
[09:28] Shai : more likely rotation day
[09:28] Shai : also inside in NF
[09:32] Shai : more buyers in 1st 15 mins
[09:32] Shai : showing that they want to hold 7740
[09:34] Amit J : but buyers missing in bn
[09:38] Shai : yes
[09:40] Shai : NF will rotate 20 points eirther side of 7746 today
[09:40] Shai : that vwap/dpoc is too centered
[09:41] Shai : BNF weak below the 3 day avg of 15300
[09:57] Shai : The vwap values in charts are trade weighted prices against the volume weighted ones we are used to . Hence would be differing by 2-3 points
[09:57] r m : ok
[09:58] Shai : IRT believes that these are more accurate representation on intra day charts
[09:58] Kathir : IRT?
[09:58] r m : they could have offered both alternatives
[09:58] Shai : Yes I asked them to
[09:58] r m : ok
[09:59] r m : @Kathir, Investor RT- the software used by Shai
[09:59] Shai : they are giving this as default option in tick charts which go by trade data
[09:59] r m : ok
[09:59] Shai : IF i go to one min non trade based ordinary chart then the vwap is volume based
[10:01] r m : right
[10:01] Shai : IB almost getting done
[10:01] Shai : NO OTF
[10:02] Shai : BNF a short again at vwap/dpoc
[10:02] Shai : sl would be 15278 val
[10:02] Shai : tgt back to 15180
[10:03] Shai : short near 15253
[10:06] Shai : sl has to be 15278- abv 15278 would mean day high again
[10:19] r m : exact 180 done!
[10:20] Kathir : superb
[10:22] Kathir : @RM now this 15150 seems to be a big support and what wld be the trgt if it breaks?
[10:22] r m : 14960, hypo 2
[10:24] r m : a deep well below 14960 😀
[10:24] r m : http://vvcap.net/db/eKgSzFr0FjWI06qLpNxv.htp
[10:30] Kathir : ok thanks
[10:35] Shai : posted yesterday’s orderflow and it showed bi buyers near 180
[10:35] Shai : https://www.dropbox.com/s/nib52br89ukijnv/OF_BNF_10.png
[10:36] Shai : Even now that dip to 15180 saw lots of blue
[10:36] r m : ok
[10:37] Shai : But open is a drive today and if sellers keep it below vwap/ val then they will be under pressure
[10:37] Shai : But abv that 15278 is that easy long trade with sl 15240 for 15340
[10:38] Shai : abv 15278 will be today’s sellers under pressure
[10:38] Shai : classic auction theory
[10:56] Shai : 2 mins just scrubbing some data in cnxit
[10:57] Shai : Looks like a short term top in cnxit
[10:58] Shai : but price confirmation is below 15380 only
[10:58] Shai : and if that is true then BNF may just hold 15180 again today
[10:58] Shai : as of now Buyers are coming in BNF
[10:59] Shai : battle is at vwap
[11:51] r m : bn staying above vwap
[11:55] Kathir : low volume day
[11:59] r m : yes
[12:01] r m : sellers
[12:10] Shai : 15180 is tested
[12:12] Shai : 7719
[12:12] Shai : 7717
[12:13] Shai : 7695- 7705 is last supp
[12:13] Shai : below that yesterday’s lows
[12:16] r m : 7723 was yesterday’s vwap
[12:18] Shai : yes and friday fall
[12:18] Shai : and monmday high I think
[12:18] Shai : *monday
[12:18] r m : yes
[12:18] Shai : we are auctioning last friday
[12:19] Shai : had to stay abv 7746
[12:19] r m : should NF be shorted below day’s low or only below 7705 now?
[12:21] Shai : beyond vwap
[12:21] Shai : Not a place to short
[12:21] r m : ok
[12:22] r m : so the possible trade now is either buying when there is enough blue or wait for a pullback to short
[12:23] Shai : yes
[12:23] r m : Thanks
[12:23] Shai : buyers are here
[12:23] r m : that algo in BNF is a buyer?
[12:24] Shai : No – looks like someone’s seell order got executed
[12:24] r m : ok
[12:24] Shai : could be one of the buyers from yesterday
[12:25] Shai : back at IBL
[12:26] Shai : let;s see if sellers come back in NF
[12:26] Shai : High risk short is at 7731 with sl above 7747 for 7606
[12:27] Shai : *7706
[12:27] Shai : IBL to 2IBL
[12:27] r m : ok
[12:35] Shai : seller there at IBL also
[12:38] Shai : If he breaks 7706 then all the way to 7652
[12:38] Shai : maybe not today
[12:38] Shai : nut on by tom
[12:38] r m : ES fell yesterday by 10 points
[12:40] Shai : I’m tracking the spx cash and that broke 1934 supp
[12:40] r m : ok
[12:40] Shai : so that should do 1884 next but there was some buying visisble from the 1914 zone last time
[12:41] Shai : mid june
[12:49] Shai : buyers
[12:49] Shai : exit shorts abv 7736
[12:49] r m : fast climb this time
[12:49] r m : ok
[12:50] Shai : yes bouncing from poc 7716
[12:51] Kathir : @Shai dpoc and vwap @ 41 range ..will that be a better SL for this short?
[12:52] Shai : No
[12:52] Shai : has to come below IBL again
[12:52] Kathir : ok
[12:52] Shai : or get rejected abv 7746 again
[12:52] Kathir : ok thanks
[12:52] r m : it is flying now!
[12:53] Kathir : 🙂
[12:54] Shai : 5 point stop triggered – we could have cut out at 7717
[12:55] r m : yeah, it gave an exit opportunity
[12:55] Kathir : bnf above vwap now
[12:58] Shai : 7700 pe additions from open- https://www.evernote.com/shard/s246/sh/accf4b3a-8540-4908-86d6-148fb3877809/59a0291e78d8270db4e27f0126bebe7f
[12:58] Shai : RM, I shifted to skitch – I use that on my phone
[12:59] r m : ok
[13:01] r m : vvcap failed many times, rejected by me too 🙂
[13:02] Shai : I need annotations
[13:02] r m : yes
[13:03] Shai : I was gonna buy from techsmith and then I decided to see if skitch was there on windows
[13:03] Shai : saved 50 $ 🙂
[13:03] r m : good
[13:05] Shai : It’s good if you are already with evernote
[13:05] r m : ok
[13:07] Shai : technically defense of 7720 region – Now likely to go to 7804 tom , sl for the view is 7706
[13:08] Shai : can also buy abv 7756 with sl of 7720
[13:08] Shai : we could have another neutral day if we cross IBH now
[13:10] r m : jing is ok, can do some basic notation – http://screencast.com/t/GGEYpxCbFfN
[13:11] Shai : I liked Jing and was a heavy user earlier
[13:11] r m : ok
[13:11] Shai : don’t know why I stopped
[13:11] r m : that is also by techsmith
[13:12] Shai : yes
[13:12] r m : i think Jing is relatively heavy on resources
[13:24] Shai : ok
[13:24] Shai : eith NF closes at 7746 today or ,makes a neutralo day and closes up
[13:24] Shai : *either
[13:25] Kathir : bnf shai
[13:26] Shai : BNF in a tough place- previous buyers near 15180 and morning sellers holding vwap
[13:26] Kathir : ok
[13:27] Shai : Still 15256- 15258 ref for new longs
[13:27] Shai : if crossed then day high with vwap as sl
[13:27] Shai : else close at lows
[13:27] Kathir : ok
[13:40] r m : that means every touch of vwap from below can be shorted with stop and reverse at 15258 🙂
[13:45] r m : too much testing of buyer at 180!
[13:54] Kathir : they are being tested for the past one week 🙂
[13:54] r m : solid foundations!
[13:54] Kathir : yes
[13:54] Kathir : your short was right..did u trade
[13:55] Kathir : 13:40 r m: that means every touch of vwap from below can be shorted with stop and reverse at 15258 🙂
[13:56] Kathir : perfect view
[13:57] r m : 🙂
[13:57] r m : perfect but theoretical
[13:59] Kathir : 🙂
[13:59] Kathir : mostly our theoretical views is success 🙂
[13:59] r m : if BNF sellers and buyers stand firm till evening then that views can give the monkey (the one who distributed the bread between two cats) earning to trader!
[13:59] r m : 😀
[14:00] Kathir : 🙂
[14:00] r m : in theory we overlook the losing part 🙂
[14:00] Kathir : yes ge
[14:01] r m : the problem in above theory is that BNF may begin oscillating between 260 and vwap and hit stops on both sides 😀
[14:02] Kathir : anything can happen if we trade
[14:02] r m : yep
[14:03] r m : not only can but it does happen 🙂
[14:03] Kathir : 🙂
[14:04] Kathir : your theory today gave two successfull enries from 230-180
[14:06] r m : that happened before theory was formulated with the help of 20/20 hindsight 😀
[14:06] r m : looks like some buyers trying to sneak in
[14:06] Kathir : 🙂
[14:07] Kathir : buyers expect somebody to come and take charge above vwap..
[14:08] Kathir : this time NF above vwap again
[14:08] r m : let us see if last hour buying happens today
[14:09] Kathir : ok give me a call for last hour.RM special
[14:09] Kathir : TTB requires a call from RM
[14:10] Shai : even on a poor range day the 2 pm move was 20 points
[14:10] r m : yes
[14:11] Shai : BNF morning sellers are in control
[14:11] r m : @Kathir, only issue is that this one will be from GTB – Guarantee to Bankruptcy 😀
[14:11] Shai : stronmg chances of close at lows
[14:11] Kathir : lol
[14:11] r m : ok
[14:14] r m : only 2 days out f 10 previous days NF did not rise to the occassion in the last hour even when it was in dumps – http://screencast.com/t/ls2cfEwGDKI
[14:15] r m : but those 2 occasions did all the damage 🙂
[14:18] Shai : Nice . Thansk
[14:18] r m : welcome
[14:19] r m : looks like markets off to nether lands
[14:21] r m : @Kathir, are you buying BN at lows, an algo is there every time 🙂
[14:22] Kathir : how many time i can buy near lows ge..it is creating new lows only
[14:22] r m : lol
[14:23] r m : no new low created in last 3 minutes
[14:23] r m : 😀
[14:27] Kathir : @RM where are the buyers who took NF from 650 to 780 yest ?
[14:27] r m : waiting at 650 to have a second 100 point trip 🙂
[14:27] Kathir : 🙂
[14:37] r m : 7706, next stop buyers at 7650!
[14:39] r m : vwap band is watching price go by with no reaction in NF
[14:40] r m : @Shai, that vwap being based on trade instead of volume may be having impact on sd bands too?
[14:41] Shai : no
[14:41] r m : ok
[14:42] Shai : the only diff is that when vwap is based on volume it takes into account all the volume based on bid ask
[14:43] Shai : this vwap takes trades based on uptick /down tick
[14:43] r m : ok
[14:43] Shai : there’s a minor diff in classification of the trades as buys or sells
[14:47] Shai : buyers came at 7690
[14:47] r m : yes
[15:10] Kathir : Bye all
[15:13] r m : Bye Kathir
[15:17] Shai : another 3 IB day
[15:17] Shai : Headed now for 7652 again
[15:17] Shai : globe is every shaky
[15:18] Shai : wonder how yesterday’s buyers at 7655 react tom
[15:19] Shai : 15180 now res in BNF
[15:30] Shai : updown ranges from last few days
[15:30] r m : Thanks and bye folks, have a great evening 🙂
[15:30] Shai : Bye all
[15:30] Shai : Have a nice eve