General Chat Transcript
Room Name: Vtrender
Date and Time: July 21, 2014 09:07:30
[08:48] Shai : GM all
[08:49] Shai : http://vtrender.com/levels-and-plan-for-21st-july/
[09:03] r m : Good Morning folks!
[09:08] r m : pre-market suggests open at PDH in both
[09:12] Shai : yes looks like open at highs
[09:13] Shai : BN spot is the key for me for this weel
[09:13] Shai : *week
[09:13] Shai : 15510 pre open
[09:14] Shai : res at 15720 and 15584 before that
[09:14] Shai : supp 15340
[09:14] Shai : spot res at 7704
[09:17] Shai : 15520 is a seller in BNF
[09:17] Shai : still an open auction and a mOnday
[09:17] Shai : let’s wait for some more time
[09:43] Shai : BNF is showing buyers now at the same 15510 level
[09:44] Shai : with a sl of 15465 this can go to 15640 from here
[09:44] Shai : cmp 15555
[09:44] Shai : NF stays abv the 7691 level comfortably
[09:53] Shai : On friday we waited for this 7686- 7720 NF move but was not to be
[09:53] Shai : No 7720 + is the ref line for new longs
[09:54] Shai : or down at 7691 with a 10 point sl and blue OF
[09:54] r m : bnf longs can be added here or on green only?
[09:55] Shai : add at vwap was better
[09:55] Shai : that 15510 is now shoing hints of buyers
[09:55] r m : yeah, did that, was asking post facto 😀
[09:55] Shai : was our pre mkt level
[09:55] Shai : 🙂
[09:56] Shai : cross of IBH post 10.20 to add now
[09:56] r m : ok, thanks
[09:56] Shai : additions always on price confirmations
[09:56] r m : ok
[09:57] Shai : Spot is settling for the 7834 level if we close above 7700 spot today
[09:58] Shai : a close below 7700 spot now means that bears have a window to run the market down
[09:58] r m : so we can buy 7800CE around close in that case?
[09:58] Shai : else it will be a short covering move
[09:58] Shai : 7800 ce is actually better for aug- july may drain out
[09:58] r m : ok, thanks
[09:59] Shai : the move from 7580 to 7700 spot was an easier one- this from 7700- 7834 may take time
[10:00] Shai : shorts come in below 7700 spot now and get stronger below 7670 spot
[10:01] Shai : 7719 F is the high- we wait for 7720 cross . OF in the first hour of the week is mixed
[10:02] r m : globe closed in green but aftermarket is not showing much enthusiasm today
[10:02] Shai : yes
[10:03] Shai : 15640 BNF is bottom of single prints from 7/7
[10:03] r m : ok
[10:03] Shai : cross of 15640 will give an an 70 points to 15710 . can be trade as a high risk setup with a 20 point stop below 15620
[10:04] Shai : above 15710 is a easy low risk trade for 15840
[10:19] Shai : signs of reduction in 7700 ce this morning
[10:19] Shai : larger addition at 7600 pe looking to confirm an expiry above 7600
[10:33] r m : red increasing
[10:44] Shai : looks range bound now for some time with IBH holding in both
[10:51] r m : bnf entering value but it was not a balanced profile on friday
[10:52] Shai : yes
[10:52] Shai : 15380- 15400 had vpoc
[10:52] r m : yes
[10:52] Shai : so below 15465 this is the tgt
[10:52] r m : ok
[10:55] Shai : test of 7685 coming
[10:58] Shai : 15452 low is an algo on the buy side
[11:14] r m : BNF reluctant to let go of 510!
[11:15] Shai : buyers are back in both
[11:43] Kathir : Hi Shai RM ge
[11:44] Shai : Hi Kathir
[11:44] r m : Hi Kathir
[11:48] Kathir : @Shai no take long bnf or NF?
[11:48] Kathir : now
[12:03] Kathir : @RM ge
[12:07] r m : looks like low is done in both but I am not long – did not buy at lows
[12:08] Kathir : @Rm where is the vwap for NF
[12:08] r m : 7703
[12:09] Kathir : ok thanks.vwap not in the screen
[12:09] r m : yep, NF stooped too low 😀
[12:11] Kathir : did u go short in the morning
[12:11] Kathir : ?
[12:11] Kathir : with SL above 720
[12:12] r m : @Kathir, no
[12:14] Kathir : ok ge
[12:15] Kathir : @RM bnf well above vwap but NF struggles..shall i take long above vwap NF?
[12:18] Shai : yes long abv vwap is day high
[12:18] Kathir : Shai changing the chart size
[12:18] r m : may be worth it, open was 701
[12:19] Shai : 7720 and a posisble 7755
[12:19] Shai : neutral extreme environment again
[12:19] r m : stop wil be below IBL for that long above vwap?
[12:19] Shai : vwap should cross
[12:19] Shai : yes IBL
[12:19] r m : thanks
[12:19] Shai : also IB band trade
[12:22] Kathir : thanks shai
[12:23] Kathir : 7720 now seems to be a well known resistance everyone is talking about it
[12:24] Kathir : some TV guys told this a s SL for shorts morning
[12:24] r m : oh, that is why i missed that short, i never watch TV 🙂
[12:25] Kathir : mornig i watch just to check world markets and SGX nifty
[12:26] r m : ok
[12:26] Shai : lots of blue coming
[12:27] Shai : in NF that is
[12:27] Shai : 7682 has seen dip buyers again
[13:20] Kathir : @rm HOW ABT EUROPE?
[13:36] r m : red everywhere
[13:36] r m : NF is the only green in a sea of red 🙂
[13:36] r m : http://www.investing.com/indices/indices-futures
[14:10] Shai : auction has become quiet
[14:21] r m : shorts are able to keep the price below IB
[14:25] Shai : yes and below vwap
[14:25] r m : could make a dive in the last hour
[14:26] r m : ?
[14:30] Shai : thatv vio;lume at 7685 was buys and ddefending
[14:30] Shai : will have to drop below 7685 for a drop to 7660/ 7647
[14:30] r m : ok
[14:31] r m : so better to have a stop below 7685 in case we get a break above vwap
[14:31] Shai : NO iBL is an ok stop as tgt is 7720
[14:32] r m : ok, thanks
[14:32] Shai : only abv 7720 let’s add
[14:32] r m : right
[14:32] Shai : (10:00) Shai :shorts come in below 7700 spot now and get stronger below 7670 spot
[14:33] Shai : (10:01) Shai :7719 F is the high- we wait for 7720 cross . OF in the first hour of the week is mixed
[14:33] Shai : 2 time frames are clashing today
[14:33] r m : yes
[14:33] Shai : on the spot still watching 7700 spot clsoing for upward momentum to continue
[14:34] r m : ok
[14:47] Shai : buyers at vwap
[14:47] Shai : should move higher
[14:48] Shai : sl of 7691 from cmp 7701 for 7719
[14:55] r m : seller takes over at vwap
[14:59] Shai : sl gone
[15:00] Shai : 7704 has stuck buyers
[15:01] Shai : NF to revisit there ?
[15:05] r m : bulls will try to close at center for that?
[15:12] Shai : now more sellers
[15:12] r m : yeah, bears hate 7700 in spot!
[15:13] Shai : could be the late 7704 used vwap to exit
[15:13] Shai : and hence all that red
[15:13] r m : yes
[15:13] Shai : that 7704-7684 drop was weird
[15:14] Shai : we do have a seller at 7719 today
[15:15] Shai : today’s profile reminds me of 7/7
[15:16] Shai : then also we had a seller at 7810 who became stronger
[15:16] r m : BNF at POC at last!
[15:18] r m : 7th july was an open drive though
[15:19] Shai : 8th was open drive?
[15:21] r m : i was looking at 200k volume bar chart, both days looked like an open drive in those charts 🙂
[15:21] Shai : 7th was either side of 7800 then
[15:21] r m : yes
[15:22] Shai : we will close below 7700 spot today
[15:23] r m : 7th looks like an open test drive – http://vtrender.com/wp-content/uploads/2014/07/NF_Compo14.png
[15:25] Shai : you are right- I wa srefereing to the structure of the day
[15:26] r m : yes, it was a balanced day
[15:26] Shai : and got waylaid by the 8th which has a stronger drive down
[15:26] r m : on 8th the drive worked till the close
[15:27] Shai : yes
[15:28] Shai : we are holding 7670 spot still
[15:28] Shai : No need to panic eyet
[15:28] Shai : think buyers will be seen at the open tomorrow
[15:28] r m : ok
[15:30] Shai : 7682/15409
[15:30] Shai : Bye all
[15:30] Shai : Have a nice eve
[15:30] r m : Thanks and bye, have a great evening 🙂