General Chat Transcript
Room Name: Vtrender
Date and Time: July 09, 2014 09:04:52
[08:42] r m : Good Morning folks!
[08:45] Shai : GM all
[08:46] Shai : http://vtrender.com/levels-and-plan-for-9th-july/
[09:15] Shai : spike zone the area of interest today
[09:16] Shai : Markets don’t do a V often- so bulls will wait to see horizontal development and signs in there of buyers coming back
[09:18] Shai : 7649/ 15150 first ref lines from plan
[09:19] Shai : can give 4 points of leeway in NF and 14 in BNF for all volume profile levels
[09:21] Shai : signs of buyers in NF
[09:21] Shai : 7680 likely- sl below 7639
[09:24] Shai : move sl to 7634
[09:35] Shai : that initial move up looks cut
[09:35] Shai : market choosing comfort of vwap/dpoc
[09:36] Shai : I thought it would be s sharp move to test 7680 right at open
[09:37] Shai : move could still come if we hold 7620 but would prefer the market to keep abv 7650
[09:37] Shai : Meanwhile BNF playing to plan
[09:46] Shai : 7555 has single prints from last mon
[09:47] Shai : what is weird is that the big event is tom
[09:48] r m : market chose to sync with globe before big event!
[09:59] r m : NF back near PDL
[10:11] Shai : except that faker at 7661 early in the first few mins it has not managed above 7649
[10:12] r m : yes, got sellers at 7645 this time
[10:13] r m : BNF trying to knock at VAL
[10:14] r m : guess it should get a battery recharge at vwap first 🙂
[10:28] Shai : BNF has dropped hard and one day more than NF
[10:29] r m : that algo at 15152 seems to be a seller
[10:31] Shai : yes
[10:32] r m : Thanks
[10:32] Shai : alos looks like some1’s buy abv price got triggered and the seller took it
[10:32] Shai : there is a blue right next to it
[10:32] r m : yes
[10:34] Shai : there are those 0’s so that was a limit order which went sell side
[10:34] r m : ok
[10:34] Shai : BNF time to bounce technically
[10:34] Shai : so imp to see if it comes abv val at any time
[10:35] Shai : the fall has been now 813 points
[10:59] Shai : low is poor in BNF even though it made to the 14915 pre market levels
[11:00] Shai : there will be a point to short BNF positionally around 15320 if it gets there with sl of 15420 for 14950/ 14440 tgts
[11:00] Shai : good risk reward trade I feel
[11:01] Shai : NF has a good low in place at 7568
[11:01] Shai : 7555 was teh start of the pre budget rally on Monday last
[11:02] Shai : technically a faster fall which retraced a faster rise fully
[11:02] Shai : Looks like a 7500- 7900 range for some time in Nifty
[11:02] Shai : some months actually
[11:03] Shai : the bigger budget is feb next year
[11:04] r m : IBH in NF
[11:04] Shai : This one if for 7 months and what can you expect with a govt which is 1 month old and new to policies at the center
[11:04] Shai : Market should not over expect
[11:04] r m : this budget is more for showing intent
[11:05] Shai : yes but we have the manifesto for which we voted
[11:05] Shai : give them time
[11:05] r m : yes, i think by next budget we will know if economy is coming back on track
[11:06] Shai : that will be the big one
[11:06] Shai : most people believe taht 2015 will be the big year of the bull
[11:07] r m : yes, they have this 8 year cycle theory too
[11:07] Shai : yes then 2016 goes the other way 🙂
[11:07] r m : lol
[11:08] r m : BNF testing val again
[11:09] Shai : rise in sellers inj NF
[11:40] Manikandan : sellof in markets coz of brazil loss to germany ?
[11:40] r m : 🙂
[11:41] Shai : during that match all expected neymar to come straight from hospital to the ground !!
[11:41] r m : lol
[11:41] Manikandan : LOL
[11:41] Shai : typical hindi movie style
[12:02] Kathir : @Hi Shai RM Mani and all
[12:02] r m : Hi Kathir )
[12:02] r m : 🙂
[12:07] Kathir : seems to be happy with german victory:)
[12:08] Manikandan : hi bro
[12:08] Kathir : one stage it was like if anyone wants a goal please come near gaol post
[12:08] Kathir : goal
[12:08] Manikandan : hoping for germany to win , but not with such margin
[12:08] Kathir : i want argentina win
[12:15] Manikandan : no way bro , its holland vs germany in final . with van persie lifting the world cup
[12:25] Kathir : @Mani let us see
[12:26] Kathir : messy will lift the cup
[12:36] Amit J : i want brasil win 🙂
[12:38] r m : at
[12:38] r m : 🙂
[13:03] r m : economic survey highlights – http://tinyurl.com/nmydvbd
[13:11] Shai : buyers coming at vwap 7626
[13:11] Shai : Thanks RM
[13:12] r m : bull fledglings- http://tinyurl.com/mmv3m95 🙂
[13:17] Shai : lol
[13:24] Shai : There is a willing buyer at 7625 vwap and a seller above 7650/60
[13:24] Shai : waiting for that part of the auction to get over
[13:25] Shai : probable upside is at 7680/ 7708 still
[13:25] Shai : downside looks checked unless we go below 7620 again on forced liquidation below vwap
[14:04] Shai : more chances of seeling 7740 tomorrow if we stay abv 7620
[14:05] Shai : High risk trade – sl 7619, tgt 7740 – can buy abv 7660
[14:06] r m : hardly anyone noticed the railway management splitting proposal quietly introduced by Gowda – http://tinyurl.com/pjlvtba
[14:08] Shai : Yes heard him say that very early in the speech
[14:08] r m : ok
[14:09] r m : looks like a gap in NF near vwap
[14:09] Shai : But everyone’s common complaint has been good on vision, but short on detail
[14:09] r m : ok
[14:14] r m : thick profiles in both NF and BNF today
[14:21] Shai : yes
[14:22] Shai : ready to swing big tom again
[14:22] r m : today likely to close near dpoc/vwap?
[14:22] r m : or too early for a view on that?
[14:25] Shai : yes more likely vwap close
[14:25] r m : thanks
[14:36] Shai : not enough buyers in BNF again
[14:39] Shai : Vix nearing week lows
[14:39] Shai : Looks like the market is saying that the worst outcome from the budget is now priced in
[14:46] Amit J : many events in this week,,, mkt would be wild. BOE and Fed minutes also imp. + infy nos
[14:46] Shai : yes that should have sent vix higher
[14:46] Shai : Plus we dropped
[14:46] Shai : No fear
[14:48] Shai : Purely from vix point of view the budget has to be horrible with all capitals for the market to go down further based on it
[15:09] Shai : complicated distribition today
[15:10] Shai : a bit of a ORR in the morning and horizontal thereafter plus responsive buyers at lows
[15:12] r m : Consolidation has been in yesterday’s single prints only in NF
[15:15] Shai : indicates acceptance of yesterday’s downmove actually- Risk of a large move into event is even bigger
[15:15] r m : ok
[15:16] r m : today Kris was twittering about #Achhedin, guess he is a permabear 😀
[15:18] Shai : Roughly 250 point drops from May16
[15:18] Shai : at today’s lows we have done 250
[15:19] Shai : Kris should be informed that there is now Modi at center not MMS
[15:20] r m : lol
[15:20] r m : He is an avid Modi supporter but equally committed bear 🙂
[15:21] Shai : cannot reconcile both and the market
[15:21] Shai : he will have to choose 1 🙂
[15:21] r m : lol
[15:22] Shai : Falls will be 8-9 days in a bull market and rises over 20 days
[15:22] Shai : so looks like he has decided to work less
[15:23] r m : yes! less work more pay 😀
[15:30] Shai : 7591 not a happy close for a bull
[15:30] Shai : They will look to Modi tom 😉
[15:30] Shai : Bye all
[15:30] Shai : Have a nice eve
[15:31] Amit J : shai if you see any stock to buy for 4-5 years then plz let us know
[15:31] Shai : sure
[15:31] Shai : Haven’t checked technicals of Nestle but the last bit of news made it an excellent long termer
[15:32] Amit J : no nothing great on news
[15:32] r m : Bye all 🙂
[15:32] Amit J : i will send u some mid cap name for all as we discussed. if u can spend some time
[15:33] Shai : sure
[15:33] Shai : do send
[15:33] Shai : tc- will catch up later
[15:34] Amit J : thanks and good bye to all