Here is the extract of the chat room today
General Chat Transcript
Room Name: Vtrender
Date and Time: June 02, 2014 09:06:52
[08:39] r m : Good Morning folks!
[08:48] Shai : GM all
[08:49] Shai : http://vtrender.com/trading-room-levels-and-plan-for-2nd-june/
[09:05] Amit J : GM
[09:13] Shai : pre open Nifty is up but BN still down
[09:14] Shai : Focus on what the BN does in first hour
[09:14] Shai : RBI tomorrow
[09:18] Shai : BNF 14815 ref line for shorts of friday
[09:18] Shai : auction opening up abv spike lows
[09:20] Shai : NF shows willing buyers
[09:20] Shai : Longs can be taken abv 7256 for 7285 with stops below 7230
[09:25] Shai : BNf hesistating near that 815
[09:33] Shai : That vwap/ dpoc showed buyers early at the open in NF and they will try to defend the vwap line
[09:38] Shai : 7280 done- key test awaits at the FA point 7294
[09:39] Shai : 7264 intra supp now
[09:43] Dr Bansal : shai,bnf sell on rise?
[09:46] Shai : yes only upto 950
[09:47] Shai : this move abv 815 can go to 890
[09:47] Dr Bansal : ok.
[09:49] Shai : morning mpove is running out
[09:49] Shai : ear;ly morning longs would be booking and waiting out
[09:52] Shai : past few sessions opens have been faded near the end of IB and vwap has been broken convincingly
[09:53] Shai : first time in many days we are just near vah
[10:02] Shai : 14890 bnf
[10:09] Dr Bansal : shai,ib hour over?
[10:10] r m : 10:15
[10:18] Shai : NF staying abv VAH
[10:18] Shai : Buyers looking good this morning
[10:19] Shai : BNF abv 12930-12950 will seal it for bulls
[10:19] r m : 12xxx still in memory 🙂
[10:19] Shai : 6262 below and 6295 abv
[10:20] Dr Bansal : better to wait for bulls?
[10:20] Shai : Lol RM- wish BNf was only the last 3
[10:20] r m : lol
[10:20] Shai : 5 digits amke it always tricky
[10:20] Shai : Dr with Modi at centre most expect RBI to change stance to growth
[10:21] Shai : so if the makrket believes that it will react today itself
[10:21] Dr Bansal : rm,some tv chhanel showing modi to remain PM till 2026 as per NOSTERDUM.
[10:22] Dr Bansal : French jyotish.
[10:29] Dr Bansal : RG must be worried.
[10:30] Shai : Fresh buyers in NF
[10:32] Dr Bansal : shai,in bnf vah at?
[10:32] Shai : these bueyrs at 7272
[10:32] r m : @Dr VAH at 14990 in MP chart
[10:41] r m : RG should feel happy, I don’t think that he likes doing anything other than foreign holidays – it is the coterie in Congress which derives its power from Gandhi’s which wants RG to lead 🙂
[10:47] Dr Bansal : see rm,someone questined the integrity of Smiriti on qualification.
[10:47] r m : that is all those poor folks can do now 😀
[10:48] Dr Bansal : he do not know best of our Generals trained in NDA were 10+2.
[10:50] Dr Bansal : Modi wants to stop forward trading in food items to control inflation.
[10:50] r m : yes
[10:50] r m : it was started by Pawar whose sole purpose in life is to make money 😀
[10:51] Dr Bansal : EOD
[10:54] r m : FA at 7294 likely to be visited now
[10:58] Shai : yes between 7280- 7294 now
[10:58] Shai : below 7280 we get VAH and abv 7294 a higher push
[10:59] Shai : on spot a close abv 7283 will be good
[11:07] Shai : sellers are there near 7290
[11:07] Shai : 14890 has stopped BNF
[11:08] Shai : 14815 and 7265 VAH ref areas now for the rest of the day for the buyers
[11:15] Shai : Jump
[11:19] Shai : vwap expanding- big volumes on that algo
[11:33] r m : bn does 80%, achhe din aa gaye (bulls ke) 🙂
[11:38] Shai : In Nf every dip to 7294 is now a buy
[11:38] Shai : tgt abv is 7360
[11:38] Shai : generally when an FA is crossed convincingly the NF is known to do another 150 over FA point
[11:39] Shai : Plan- “If we cross above 7255 near the Open then NF may move to 7280/ 85 easily . FA point of 7294 is important again for signs of rejection and once we trade above this and the 7305 then longs control with SL of 10 points below FA. 7362 is the target above 7305 ”
[11:40] Shai : BNf abv 14930 as well and in the previous bracket
[11:41] Shai : technical sl for longs now rests at 14888 prev day vwap
[11:41] Shai : and if we close abv 14930 then tgt is 15222/ 15340
[11:49] Shai : BNF abv 14930= big volumes+ OI drop= http://prntscr.com/3ovraq
[11:52] Shai : NF above the FA point- http://prntscr.com/3ovrqw
[11:54] Amit J : big news on psu banks on CNBC
[11:58] Shai : any link?
[11:58] Shai : BNF on fire
[11:58] Shai : 15222 is on today
[11:58] Amit J : source says holding co for PSU banks – CNBC
[11:58] Amit J : its big +
[12:01] r m : the plan to provide lower interest rates housing loans for small houses is likely to lead to huge expansion in banking
[12:04] Shai : yes huge piece of news
[12:04] Shai : price move is reflecting it
[12:06] Shai : 3IB is also 15222
[12:07] Shai : devloping vah at 15070 is sl
[12:16] Shai : 15215
[12:16] Shai : neeed to book once intra dayers and buy on a dip
[12:18] Amit J : how is vol today on rise
[12:19] Shai : mix of shortcovering and buying
[12:19] Amit J : does todays move looks positional trending?
[12:19] Shai : yes definite signs are there
[12:19] Amit J : thanks
[12:19] Shai : signs of OTF in action
[12:20] Shai : levels wise we will come back to test 7290 / 14930 in next few sessions
[12:24] Shai : auction has completed objective of the day near 7350 and 15222
[12:25] Shai : more chances of a rotataion 7305- 7360 and 14094- 14200
[12:46] Kris : Hello All!
[12:46] Shai : Hi Kris
[12:47] Kris : Hi Shai – Feels very nice to be back in room!
[12:47] Shai : welcome back 🙂
[12:50] Kris : Hi Rm – around?
[12:51] Shai : Must have gone to check his bank balance 🙂
[12:51] Kris : 🙂
[12:52] J G : me and rm went to fill up our trade accounts as now kris is back – we need to sit back and take his trades – welcome back kris
[12:52] Kris : @Shai – what are the blue and red bars at the top pane – they are showing two numbers as well
[12:53] Kris : Hi Janak – hope you are doing fine.
[12:53] J G : yes kris – shai has started giving some wonderful direct trades as he has realisex that people like me are better spoon-fed 🙂
[12:53] J G : as i cant understand much about MP
[12:54] J G : BN is a buy here for 222?
[12:55] Shai : yes
[12:55] Shai : Kris active buyers and sellers
[12:55] J G : ok shai in
[12:56] Kris : @Shai – the charts look a lot simpler – removed a lot of details?
[12:58] Shai : Yes took out a few things – more refined now I think
[12:58] Kris : why VAH POC and VAL are empty in both NF and BN?
[13:00] Shai : the refresh rate puts them off for a bit but they come back
[13:00] r m : Hi Kris 🙂
[13:00] Kris : Hi RM – finally made it back! 🙂
[13:00] r m : my net is taking a spin so half the time I am out 🙂
[13:00] Kris : @Rm – Finally I made it to the trading room in a Modified India 🙂
[13:02] Dr Bansal : only bulls (FIIs) can take India out of economic mess .
[13:02] J G : shai pl. hire kris at an obscene salary to give us readymade tips 🙂
[13:02] Kris : @Rm – I am curious to understand the MP chart of BN – with all those numbers and LoBal etc. – will you give it a try or we give it as a todo to Shai? 🙂
[13:03] r m : @Kris, if you look at my ledger you will never ask me to explain anything about markets 😀
[13:04] r m : I think the lower balance and higher balance are from previous bell shaped composite’s value area
[13:04] Kris : @Rm – I am not asking trades man – just explanation of chart – ledger peeking – well – that is a topic even I want to avoid 🙂
[13:04] r m : lol
[13:06] r m : Shai is posting an excellent pre-market view on the blog, this time he is incuding the moves vis-a-vis previous balanced profile every day
[13:06] r m : http://vtrender.com/trading-room-levels-and-plan-for-2nd-june/
[13:06] r m : password is – premium
[13:06] r m : 🙂
[13:06] Kris : there are these colored dots – it means merged profile – how many days ?
[13:08] Kris : thanks Rm – Shai has been kind enough to share the details – but as always – I want to understand it clearly – taking readymade trades is out of my reach 🙁
[13:08] J G : yeah kris – only giving r.m. trade is ur forte ;
[13:08] r m : lol
[13:09] r m : @Kris, I think Shai is not considering fixed number of days but gives importance to formation of a bell shaped balanced profile
[13:11] J G : 190 – shai thnx man – on the way
[13:11] Kris : @Shai – so above 15220 – if we do get a break out – we reach 15402 quickly – is it a correct assumption?
[13:13] Shai : Yes Kris
[13:13] r m : @Kris, 15354 was the top of BN spot on 29th May, 15286 for June future, could be a burst above that
[13:13] J G : shai comm room will be open by july end?
[13:13] Shai : Yes RM bell hapes and single prints- auction gets compete at bells and excess
[13:13] r m : *15254 for spot
[13:14] Shai : back in a few mins
[13:14] J G : relcapital from 530 to 567 and still going strong rm
[13:14] r m : @JG, Belated Happy Birthday Sirjee, hamara cake lao 🙂
[13:15] J G : ok chalo 2ib pe relcap buy karo 572 ke liye – cake ka bhi baap milega ;
[13:15] J G : thnx rm
[13:16] r m : Thanks in advance for “Cake ka baap” 🙂
[13:19] Kris : hmm… yeh Shai bhee na,…
[13:19] Kris : 7362 is the target above 7305.
[13:19] r m : yep, 7360 already done
[13:21] J G : 7368 will also come
[13:21] r m : @Kris, Shai is celebrating the Elections in a big way, he temporarily closed down the commodity section to devote full time (and money) to his gigantic trades 🙂
[13:21] Kris : 🙂
[13:22] Kris : will be back in an hour or so!
[13:25] r m : that will be just in time for a break above 12220 🙂
[13:25] Shai : BNf looking good
[13:26] Shai : 15270- 15402 is a low volume stretch
[13:26] Shai : not much trades from 24/25 there
[13:27] Shai : 20 point is the drop in NF
[13:27] Shai : 85 in BNF
[13:28] Shai : close for the trend day is at highs and can be trailed with a 25 point stop from highs if we cross 7262 now
[13:28] Shai : Objective for the close becomes 7412/ 7438
[13:28] Shai : fresh buyers in BNF
[13:28] Shai : looking to take out 222
[13:29] Dr Bansal : Modi is running and everybody is breathless.
[13:32] J G : relcapital UC
[13:32] Shai : First time in many months a start of the series is not showing big premium
[13:32] J G : 10% UP
[13:32] Shai : BNF is negative
[13:32] Shai : NF barely 10
[13:32] J G : no sellers in RC
[13:32] Shai : Haven’t seen these kind of premiums in maybe 3 years
[13:33] r m : may month is less premium at times because of dividend
[13:34] Shai : june?
[13:34] r m : not noticed about June in previous years
[13:46] Shai : 7350 ref line in NF
[13:46] Shai : BNF showing a battle at 222
[13:53] J G : close above 7400?
[14:00] Shai : possible
[14:00] Shai : 7340 sl for that view now
[14:00] J G : 7418-20
[14:00] Shai : need more buying abv 7362 now
[14:04] r m : 16th May and aftermath in BNF – http://tinyurl.com/qel8too
[14:04] r m : 🙂
[14:11] Shai : Thanks RM
[14:11] Shai : Nice chart
[14:33] Shai : 15222 again
[14:33] Shai : drop from 7372 to 7348 was 24
[14:34] Shai : drop from 15229 to 15142 was 87
[14:35] Shai : (13:27) Shai :20 point is the drop in NF. (13:27) Shai :85 in BNF
[14:35] Shai : still intact for a close at session highs
[14:35] r m : from a tweet – .India should send Italian Marines back only if they accept to take some more Italians along with them 🙂
[14:41] Shai : dpoc 7350 supp
[15:07] Shai : 586 points in BNf from lows
[15:07] Shai : and RBI is still there tom
[15:07] Shai : This move of today means RBI is a non event
[15:07] Shai : all good priced in
[15:09] Shai : 15316
[15:09] Shai : that low volume zone under attack
[15:09] Shai : more likely a 15200- 15400 market for next 2 days
[15:12] J G : close around 350 shai?
[15:24] J G : there is no stopping relcaptial – 12% up and still going up!
[15:26] Shai : Nf not very keen to be abv 7362 but still prefers a close here
[15:26] Shai : sma ein BNf abv 222
[15:28] Shai : 7334 / 7350 supp for tom
[15:29] Shai : 15219/ 15127 in BNF tom
[15:30] Shai : big selling bar seen near 15290 could be longs taking profits on a 600 point run
[15:30] Shai : Bye all.
[15:30] r m : Thanks and bye folks, have a great evening 🙂
[15:30] Shai : Have a nice eve
[15:31] Amit J : bye.