[11:25] j w: trappping shorts
[11:25] j w: and longs vice versa
[11:25] r m: pullback high at 5897 holds the cue
[11:26] Girish D: JW – yes. those are the rangebound days when both sides of movement is seen.
[11:27] r m: plus 0945 low supporting Janak's view 🙂
[11:27] j w: Also, I see the formation of a 100 point range
[11:28] j w: with today's top and bottom
[11:28] j w: for consolidation after the upmove
[11:29] j w: the bottom closes the gap from Nov 29th
[11:29] j w: So can be a good support
[11:29] j w: and these tops dont seem to break in one shot
[11:29] j w: sorry two shots
[11:30] j w: So, based on the news for the next few days, we might just be playing around
[11:31] r m: @jw, that makes sense, will allow writers to benefit from premium decline too
[11:31] j w: First shot at a top seems generally the best shot
[11:31] j w: if not, then multiple hits seems to weaken the resistance
[11:32] j w: and then gap out of it.
[11:33] j w: Discounting movement of a few additional points both ways to scare the weak range players
[11:37] Girish D: RM – was the first RED candle in BN tradeable? I mean was there any quote above 12400 seen on the screen or was the first quote close to 12380-12390?
[11:38] r m: upto 12420 appeared on the screen
[11:38] Girish D: Thanks. One had to be supercomputer or Kris to trade such quotes 🙂
[11:39] r m: first minute hi – lo was 12420-12370 🙂
[11:42] Girish D: that was probably 50% of yesterday's full day range!
[11:44] r m: 🙂
[11:45] Girish D: VWAP again in both and INR below VWAP
*** Shai C, Welcome to the Vtrender conference room!
[12:35] Shai C: abv vwap
[12:37] Shai C: spot has gone to the safety of the fair value price 5868
[12:37] Girish D: Even dVAH/yesterday's VAL are sellers zones
[12:38] Shai C: yes
[12:38] Shai C: the single print seller and a b shape is long liquidation
[12:40] Girish D: I am not attempting any sell because I am happy with my profit from morning.
[12:41] Girish D: JG – still holding your truckloads of 6100CEs?
[12:44] Janak G: no holding gd only some pes – ITM
[12:46] Girish D: I thought you bought for the W this morning. At least in BN that trade from the time you mentioned, the market has given 60 pts
[12:47] Janak G: today i am learning with few ce/pes without much luck and profit
[12:48] Janak G: i am trying 10 lots and 5-10 pts method – would like to work on it
[12:49] Girish D: If that's what you are trying then VWAP band low would have been good entry point for CEs.
[12:50] Janak G: now M looks like a good trade in nf?
[12:50] Janak G: going down to 5860?
[12:51] Girish D: After the big move early morning, there may be less traing opportunities today.
[13:23] Shai C: BNF itching to move higher
[13:23] Shai C: may lead here
[13:23] Janak G: may tank also
[13:23] Shai C: 12330 abv pdl
[13:23] Shai C: should cross pdl/ vwap/ dpoc
[13:24] Janak G: shd go below 200 😉
[13:24] Janak G: obviously it will listen the shai master 🙂
[13:45] Shai C: No it's not that way- if you check charts then 12205 was a good supp some days back
[13:45] Shai C: and delta from 12200 is green
[13:45] Shai C: + we are in IB
[13:46] Shai C: so once vwap confirms the other shorts think about covering
[13:49] Shai C: now vwap dpoc in BNF
[13:49] Shai C: ang negotiations begin 🙂
[13:50] Shai C: shorts are covering
[13:51] Shai C: a smart push up will create panic in shorts
[14:05] Shai C: 12300
[14:05] Shai C: into the single prints
[14:06] j w: would it be as smooth as the slide?
[14:07] r m: i guess not, they will have to fill every single print with lot of building material 🙂
[14:07] j w: 🙂
[14:11] j w: I have no idea why we fell in the morning or why we are going up now!
[14:11] r m: lol
[14:11] j w: other than technical conclusions
[14:12] j w: which I can make retrospectively
[14:13] Shai C: 5916 NF saw volume
[14:13] Shai C: 5930 is top of this balance
[14:13] Shai C: 5890 should hold
[14:13] j w: ok
[14:14] Shai C: BN has another 50 points abv 12340
[14:14] Girish D: jw – lol. Only CNBC can give you all the reasons for every move in the market!
[14:14] j w: 😀
[14:14] Shai C: lol
[14:14] r m: Ours is not to ask why; ours is to just do and die
[14:14] r m: just win or lose 😀
[14:14] Girish D: yes!
[14:14] j w: Ours is to run behind the frisbee like a dog
[14:14] r m: lol
[14:15] Girish D: jw – you are on a roll!! nice one
[14:16] Girish D: VAL in BN
[14:19] Shai C: that was the pdl to val trade
[14:19] Shai C: 2 nd SD
[14:19] Shai C: now 1st SD
[14:19] Shai C: val to vah
[14:19] Shai C: isn't delta good- [13:50] Shai C: shorts are covering
[14:23] Shai C: NF res btw 5920- 5930
[14:23] Shai C: bears will run abv 5930
[14:23] Shai C: and we can see day high again
[14:26] j w: I guess it was Sudharshan Sukhani's outlook on the market which made the difference
[14:26] Shai C: which was?
[14:26] j w: he said ti will continue to go up..
[14:26] j w: break out range etc
[14:26] Shai C: now?
[14:26] j w: morning
[14:26] Shai C: Most of these guys are speaking 6300 from 2 weeks back
[14:26] j w: Confident from Loksabha numbers
[14:27] j w: shooting from hip
[14:27] Shai C: yes you'll get to hear the many who will say tom thay they bought at 5850
[14:27] j w: 🙂
[14:28] j w: I guess everyone on news
[14:28] r m: 🙂
[14:28] j w: buys & sells every hour
[14:28] j w: So that they can tell they bought or sold at the bottom/top
[14:28] r m: lol
[14:29] j w: That way their conscience is clear 🙂
[14:30] j w: Its just a profession. Not nice to comment too much on them. But, it was temptiing 🙂
[14:31] r m: BN is planning to change color
[14:33] Girish D: jw – they are in profession of speaking garbage on the TV. So nothing wrong in commenting on them 🙂
[14:35] Girish D: If bears have to attack this is the best place. May be there are no more bears left in the market ..
[14:35] r m: bears are in opposition these days 😀
[14:36] Girish D: yes RM 🙂 – bears think they have their best chance there
[14:39] Girish D: I finally exited INR short at 54.56 and ended my almost one week long trade.
[14:40] r m: Congrats! I thought you will wait till 45 🙂
[14:41] Girish D: RM – in my next life, I will probably have that much patience 🙂
[14:41] r m: lol
[14:42] Girish D: RM – I have finally concluded that the only ones who invest for the long term are the ones who buy and happen to forget their demat account password!
[14:42] r m: 😀
[14:43] r m: or the ones who keep on averaging and ultimately own the whole company 🙂
[14:43] Girish D: lol
[14:50] r m: PCR dropped to 0.77 (as per nse site) yesterday, guess it will go up today
[14:53] Shai C: BSP support in RS
[14:53] j w: hmm
[14:53] j w: thats still 15
[14:53] j w: SP sits out?
[14:54] j w: but thats not yet enough!
[14:54] r m: they will give a strong speech and than walk out 😀
[14:55] j w: I have seen these fights happening with kids
[14:55] j w: where they tell some odd reason and escape
[14:55] j w: dont know how leaders can do it on TV.
[14:56] r m: you need some serious problem in your spine to become an able politician 🙂
[14:56] j w: 🙂
[14:56] Shai C: 🙂
[14:56] Shai C: BN cleared the single prints
[14:56] Shai C: some hope these sellers had with the 2 M&M's controlling parliament
[14:58] j w: I am personally not convinced FDI is a right thing.
[14:58] j w: but, I have my longs.
[14:58] j w: Feels hypocratic.
[14:59] Shai C: back to a 40 point prem
[14:59] Shai C: this is madness
[15:01] Girish D: just went out to have coffee and by th time I came back, BN is up 100 pts!
[15:01] j w: go have some more 🙂
[15:01] r m: expensive coffee 🙂
[15:01] Girish D: lol – its all my coffee
[15:02] j w: do you remember which cup you drank in.
[15:02] j w: wow
[15:02] j w: what movement
[15:03] Girish D: RM – fortunately I was not short.
[15:03] j w: massive
[15:03] j w: just sweeping shorts
[15:03] Shai C: massive
[15:05] r m: one day in the life of a trader 🙂
[15:05] j w: These moments would mean
[15:05] j w: only one day life for a trader!
[15:05] r m: Alexander Soljhenytsin wold have written that if he was born in a capitalist economy 🙂
[15:06] r m: And MP guys will call this one a Normal day 🙂
[15:07] j w: 🙂
[15:08] j w: normality is in the eye of profiler
[15:09] j w: shai, one studip question, what to do with longs now?
[15:09] j w: close or hold?
[15:11] Shai C: hold
[15:11] Shai C: delta is good
[15:11] j w: ok
[15:11] Shai C: if you see a big red bar at close then book out
[15:11] j w: ok
[15:11] Shai C: red in delta
[15:12] j w: when is the voting in RS?
[15:12] j w: after market open or before
[15:12] r m: tomorrow daytime
[15:13] Shai C: v oting was 2.30 tom
[15:13] j w: ok
[15:13] Shai C: don't know if any update today on that
[15:13] j w: right time for drama
[15:13] j w: in markets too
[15:14] j w: will they be punctual
[15:14] j w: or make bhashan at 2.30
[15:14] j w: and news brakes at 3.31 🙂
[15:14] r m: 12450 in BN spot
[15:15] j w: shai, you might have to resize those profile charts
[15:15] j w: not used yoyo days
[15:16] Girish D: jw – you are underestimating Shai. He has his ssight on 12712 today 🙂
[15:16] Janak G: tom we will again have a sell-off 🙂
[15:17] j w: Lucky people will sleep extra hours in the morning on these days
[15:18] j w: where things just go out of control
[15:18] j w: or lose their demat pwd
[15:19] r m: 🙂
[15:19] Girish D: 🙂
[15:20] Janak G: they want 6k today?
[15:20] r m: BN wants 2IB
[15:20] j w: considering that we were 50 points below PDL
[15:20] r m: which coincides with PR3
[15:20] Girish D: Crude is not reflecting its real gain $ because of INR tank
[15:21] j w: I think, we should have a provision like in Test Matches
[15:21] j w: If there is a chance of result, play an extra half an hour
[15:21] r m: i have often read that volatility like today is seen at tops and bottoms, now only thing left is to work out which one today is 🙂
[15:22] Dr B: OF is red in crude?
[15:22] Girish D: Dr. B yes its probably in Sell from 4820 or so
[15:24] r m: Open drive answered by Close drive today 🙂
[15:24] Shai C: 🙂
[15:25] Shai C: and what will tom bring?
[15:25] j w: is it all due to Mayawathi?
[15:25] j w: I am still trying to search my elusive answer
[15:26] Shai C: the close drive will have that as a headline definitely
[15:26] r m: maybe tomorrow the dip buyers will turn into long term investors 😀
[15:26] Shai C: maywathi taken sensex up !!
[15:27] r m: then BSE building will sport an elephant too besides bull and bear 🙂
[15:27] j w: I had seen moenycontrol marketoutllok
[15:27] j w: 1 hour back
[15:27] j w: it had 3 articles on going down
[15:27] j w: they took out all of them 🙂
[15:27] r m: 🙂
[15:27] Shai C: NSE/ BSE made big money today
[15:28] r m: huge volumes
[15:28] Shai C: net result is mkt 20 points higher
[15:28] Shai C: traders sad – brokers happy
[15:28] r m: khaya piya kuchh nahin, glass phodne ke … 🙂
[15:28] Girish D: 🙂
[15:29] Girish D: Shai – was it ps3 to PR3 in BN today?
[15:29] Shai C: yes
[15:29] Shai C: 12205 will be imp now for the rest of this month
[15:30] Shai C: BN is on a tear
[15:30] Shai C: will not halt
[15:30] r m: Thanks and Bye folks, have a great evening 🙂
[15:30] Shai C: Bye all
[15:30] Girish D: Bye folks!
[15:31] Girish D: RM – I am off today for the ervning session but will be on tomorrow for Crude times!
[15:31] Janak G: bye all
[11:25] j w: trappping shorts