General Chat Transcript
Room Name: Vtrender
Date and Time: July 02, 2014 09:24:01
[08:58] r m : Good Morning folks!
[09:00] Shai : GM all’
[09:00] Shai : http://vtrender.com/trading-room-levels-and-plan-for-2nd-july/
[09:16] Shai : Open away from balance
[09:16] Shai : More likely we see it coming back to test the balance boundaries
[09:16] Shai : 7680 ref level
[09:17] Shai : the other option is the market stays near open price in an OAOR
[09:20] Shai : BNF in a hurry to come dowm
[09:22] Shai : 15516 showing buyers
[09:24] Shai : 7700 on the spot prev highs
[09:24] Shai : NF higher tgt for this week is still 7748
[09:25] Shai : prefer to buy closer to gap fill at 7678 with sl below 7648 for 7748
[09:26] Shai : 15510 sl for new intra longs in BNF tgt 15587
[09:31] Shai : settling down more as an OAOR
[09:36] Shai : 15587 almost here
[09:36] Shai : if we sustain above 15590 then higher tgt for intra is 15710
[09:37] Shai : BNF is coming out of a range and should be the bigger mover today
[09:37] Shai : sl for that view is below 15450
[09:44] Shai : 15500 ce under pressure
[09:51] Shai : option 2 working- (09:17) Shai :the other option is the market stays near open price in an OAOR
[09:51] Shai : has implication for a higher move into close if gap to 7678 remains
[09:52] Shai : option writers focus on 7700
[09:53] Shai : if we see big buildup at 7700 pe then the market may be ready to move out of the 75000- 7700 zone
[09:53] Shai : so far it is 3:1 in favore of bears at 7700
[09:53] Shai : evidence of the IB not showing a lot of put writing at 7700 pe yet
[09:54] Shai : 15510/ 15470 will keep BNF upwards
[09:57] Shai : RM you see volume at 15465?
[09:57] r m : let me check
[09:57] Shai : tyt
[10:01] r m : ODIN showing one lot traded at 15465!
[10:01] Shai : thanks 🙂
[10:02] Shai : so gap filled
[10:02] r m : yeah, at 9:15 🙂
[10:05] Shai : key in BNF is vwap today
[10:05] Shai : neutral extreme always gives rise to a trend day
[10:06] Shai : if vwap holds we close at the other extreme possibly above 15700
[10:06] Shai : idea would be to buy a 16000 ce and hold till close or tom morning with sl of 15510 or 15470 F
[10:07] Shai : also a pull back low will come in the afternoon which is another buy opp
[10:07] Shai : that pbl has been coming around 2- 2.20 off late
[10:31] Shai : sectoral map- http://prntscr.com/3yk459
[10:31] Shai : everything up
[10:31] Shai : so across the board buying at res point
[10:33] Shai : banking- http://prntscr.com/3yk4k1
[10:33] Shai : sbi showing big OI buildup
[10:33] Shai : can lead BN higher
[10:33] Shai : almost on cue cnxit at day low whereas BN at day highs
[10:35] Shai : 7720 on the chart is showing huge buy pressure
[10:52] Shai : 7720 buyer will hold the market on every dip
[10:53] Shai : also vwap there
[10:58] Manikandan : /
[11:06] Dr Bansal : bnf at vwap.exit longs shai?
[11:21] Shai : no hold
[11:32] Shai : there are buyers at vwap in BNF
[11:43] Kathir : Shai RM and all
[11:43] r m : Hi Kathir 🙂
[11:44] r m : I thought you were also working in the Finance ministry basement on budget preparations 😀
[11:45] Kathir : me? :(..my only sugggestion would be to give free limit for traders
[11:45] r m : lol
[11:46] r m : that involves no outgo for govt! should be acceptable to Jaitley!
[11:46] Kathir : and if possible minimum salary for intr traders from govt side
[11:46] Kathir : yeah more profit for govt by tax income
[11:47] r m : TRDREGA 🙂
[11:48] Kathir : @RM and finally more loan and authorization for TTB Inc..
[11:48] r m : yeah, that is a must to make BJP count in Western Ghats 🙂
[11:48] Kathir : 🙂
[11:54] Kathir : my suggestions over :)…if you want anything lt me include that for you
[11:55] r m : yeah, everything double – like the Lord Siva promised to his bhakta “whatever i give you your neighbor will have double” 🙂
[11:59] Kathir : lol 🙂
[12:00] Kathir : if we can have a friend who works for FII order placement team then its very easy work for us
[12:03] Manikandan : neighbour here means manikandan
[12:04] r m : Returns will be very low what with the FII penchant to hedge everything. Better to sneak in a spy in Shai’s order room 🙂
[12:04] r m : @Mani lol
[12:05] Manikandan : shai has a huge heart, to accomodate all of us
[12:05] r m : yeah
[12:06] r m : Way to a trader’s heart lies thru his order room 😀
[12:08] Kathir : Actually shai is happy with all these because his mind is relaxed by all these comedies inside the room itself
[12:09] r m : lol
[12:11] r m : @Shai, the profile thickens – less chances of a trend day now?
[12:13] Kathir : @RM sometimes we see a gap up or down rate flashed and no trades there..how is it possible?
[12:13] Kathir : no trades there and how come that will become a high or low
[12:14] r m : like 15465 low today?
[12:14] r m : one lot got traded there 🙂
[12:15] Kathir : ok..i am asking you not only for today ge
[12:15] r m : yeah, some mystery in such quotes which needs clarification from NSE which is not forthcoming
[12:16] Kathir : ok
[12:16] Kathir : @mani any views?
[12:17] Shai : @RM- still expecting close at highs – sl just below vwap
[12:17] r m : Thanks Shai
[12:19] Shai : wc
[12:19] Shai : These days the profiles are not the true trend day HH and HL
[12:19] Shai : but we still have OTF buyer at bottom and a move away from a neutral profile
[12:20] Shai : one party will continue closing through the day esp in the last hour if vwap stays
[12:25] Kathir : @Shai if i buy NF here what SL and trgt intra?
[13:03] Shai : Kathir my tgt was near 7748 but now we buy only if we cross above with sl of 7720 or down below near 7680 with sl below 7648
[13:08] Shai : if we cross above 7748 then tgt is 7837 by friday
[13:18] Shai : sellers coming at 7742+
[13:22] r m : 7748 done!
[13:23] Shai : pink is coming at highs
[13:23] Shai : could be profits taken rather than active sellers
[13:23] r m : yes
[13:25] Shai : at the moment the pink will tell us not to chase new longs above the ref level of the overnight plan
[13:25] Shai : back to 7720 to see if the blue stays there as it is context for buyers
[13:26] Shai : or lotrs of blue above 7748 for new longs
[13:35] Shai : some of that selling is being absorbed
[13:35] Shai : blue coming
[13:38] Shai : BNF at 15700- 15780 will hit a big supply pocket between 10th june to 13th june
[13:42] Shai : time for BNF
[13:43] Shai : 15623
[13:44] Shai : Not entirely convinced of being aggressively long in NF here
[13:44] Shai : seller can strike
[13:45] Shai : besides we have done 2IB also
[13:45] Shai : 3IB as 7772 is max in day
[13:46] Shai : sellers are persistent though some of it is being absorbed
[13:46] Shai : BNF is a diff tale
[13:46] Shai : and looks better than NF fpor longs
[13:47] Shai : maybe 7739 dval or vwap visist can fix the move in NF
[13:47] Shai : dvah
[13:56] Amit J : shai it is almost 2. u told in morning that dip around 2 should be bought
[13:57] Shai : yes
[13:58] Shai : sl is now 7718 for the rest of the session
[13:58] Shai : usdinr july F is coming down to 59 again
[13:59] Shai : sl will be 60.25 from here cmp 60
[14:15] Shai : sellers are not letting go in NF
[14:20] Shai : 7720 is the imp level to hold tomorrow in NF for continuation higher
[14:22] Shai : option charts show 7600 going to bulls and work done at 7700
[14:22] Shai : almost 1:2 against the 1: 3 in the morning in ce/ pe’s
[14:23] Shai : not a lot of buying abv 7748- prudent to scale out
[14:37] Shai : BNF 2 earlier trips at 15630 have met with failure
[14:43] r m : BNF is a persistent chap 🙂
[14:44] Shai : 15635
[14:46] Shai : 15580- 15630 consoliation break is 50 points
[14:46] Shai : sl 15610 tgt comes near 15680
[14:46] Shai : *consolidation
[14:48] Shai : gone
[14:49] Shai : 15580- 630 had good buildup
[15:10] Shai : quite a battle at 7750
[15:12] r m : perhaps this battle will also be won in absentia (thru gap)!
[15:16] Shai : yes all time high close can fuel a gap up
[15:17] Shai : 7720 is the level to hold tom
[15:17] Shai : disppaointed with BNF today – thought it could do 15700 at least
[15:30] Shai : close is coming near the conflict zone of 7750
[15:30] Shai : it leaves 7720 as imm supp below and tgt of 7800/ 7837 above
[15:30] r m : Thanks and bye, have a great evening!
[15:30] Shai : Bye all
[15:30] Shai : Have a nice eve