General Chat Transcript
Room Name: Vtrender
Date and Time: June 09, 2014 09:06:39
[08:55] r m : Good Morning folks!
[08:59] Amit J : gm
[08:59] Amit J : looks like gap up opening above last fridays high
[09:10] Shai : Gm all
[09:10] Shai : http://vtrender.com/trading-room-levels-and-plan-for-9th-june/
[09:17] Shai : 7640 NF
[09:17] Shai : Ref line for further auctions
[09:18] Shai : open is above spike highs and the NE day so bullish intent
[09:24] Shai : NF settling into an OAOR like friday
[09:31] Shai : MOve abv 7640
[09:31] Shai : projected intra tgt now at 7690
[09:32] Shai : Market’s getting excited about president’s speech
[09:42] Shai : 7500 ce writers are expected to cover now on every fall
[09:43] Shai : 4) Biggest drop seen on thurs was 38 points and that on friday was (7544- 7512= 32 points) and ( 7559- 7535= 24 points)
[09:55] Dr Bansal : shai,buy bnf here?
[09:57] Dr Bansal : shai,support and resistance bnf?
[10:01] Shai : BNf supp below 656 and tgt 15810
[10:02] Dr Bansal : buy above 15656?
[10:02] Shai : 7660- 7636 fall is 24 points
[10:02] Shai : yes buy closer to vwap
[10:02] Shai : 675 now
[10:03] Dr Bansal : open price?
[10:04] Dr Bansal : and vwap same.
[10:05] Shai : yes
[10:06] Dr Bansal : sl bnf?
[10:08] Shai : 15640- let”s not give more below vwap
[10:08] Dr Bansal : ok.
[10:08] Shai : We are at a stage in NF and BNF after a very big rise when new longs have a bit more risk attached to it but shorts are not present
[10:09] Shai : Plus there are shorts trapped which will look for a dip to liquidate
[10:09] Shai : Idea would still be to look for long opportunities than shorts here
[10:10] Shai : Shorts have to dip below pdh as the first level
[10:10] Dr Bansal : pdh at?
[10:10] Shai : A spike and a NE day abv pdh – look fpor dips to buy
[10:10] Shai : 7601/ 15609
[10:11] Dr Bansal : yes.
[10:18] Shai : auction prefering to stay abv 7640 mostly
[10:18] Shai : 7660- 7636
[10:18] Shai : much of it is like Friday
[10:25] Shai : cnxit at day highs and BNf waits at vwap
[10:48] Shai : NF projected tgt is 7690 intra abv 7640
[10:50] Shai : 7500/ 7600 ce’s- http://prntscr.com/3r1an7
[10:50] Shai : change chart
[10:51] Shai : that reduction will cushion every fall in NF from here
[11:10] Shai : NF proceeding up in a Normal variation up day
[11:10] Shai : 2IB tgt is 7696
[11:10] Shai : stops below IBH of 7660- minus a few
[11:11] Shai : BNF is still inside the IB as it waits out cnxit to decide
[11:12] Shai : Projected tgts for the break of the balance from 7435 for the swing trader are 7744 F
[11:12] Shai : Has to stay above day lows of today or day highs of yesterday for that tgt to happen
[11:13] Shai : (auction cannot go below day lows or stray in previous area)
[11:14] Shai : BNf tgt is 15948 if we stay abv 15600 as sl
[11:15] Shai : Larger background is we close abv 7640 today changes from the May16th preferred view and NF can scale upto 8040 if we close abv
[11:44] Dr Bansal : shai,which CE is better in nf and bnf.
[11:46] Shai : 7800 ce – but you will have to phase it properly
[11:47] Shai : Buy the ce in dips rather than everything here
[11:47] Shai : 16000 ce in BNF
[11:47] Shai : 7578 and 7512 are 2 big supports from here
[11:47] Dr Bansal : you mean sip buy?
[11:47] Shai : would be great buys there with excellent r/r
[11:48] Shai : Dr It’s up 6% in 6 days and new buys are more riskier here even if the environment is very bullish
[11:48] Shai : chances of a sharp dip are higher
[11:48] Dr Bansal : oh.
[11:49] Shai : well it was 7240 alst monday same time
[12:02] Shai : presiden’t speech over
[12:02] r m : 🙂
[12:07] Dr Bansal : he took market along with him.
[12:13] Shai : well he is back to sleep mode- he didn’t have to write the speech only to read it .
[12:13] Shai : Must be calling up his kitchen to find out what’s for lunch now – day is over for him
[12:14] Shai : BNf getting buyers
[12:14] Shai : Buy abv 610 for 672 with sl below 590
[12:15] Shai : NF has got supported twice today at 7635
[12:15] r m : lol
[12:22] Shai : At 7500 ce on that 50 point dip- 50 K more covered : http://prntscr.com/3r1p4p
[12:24] Shai : NF buyers at vwap
[12:25] Shai : There is a bit of supply at 7678- 3 visists there show a lot of pink
[12:34] Shai : BNF slo taken
[12:34] Shai : just stopped near pdh
[12:34] Dr Bansal : Hfeez sayyed blames Modi for attack on karachi airport.
[12:35] Dr Bansal : pdh becoming resistance bnf?
[12:35] Shai : yes temp
[12:36] Shai : there are buyers neat 15520
[13:00] Shai : Looking more and more that today’s close is at 7650 vwap/dpoc
[13:00] Shai : and a market which will remian flat to make a balance till maybe IIP
[14:27] Shai : 7679- 4 times now
[14:34] r m : @Shai, BNF day high possible above vwap?
[14:34] Shai : 15690
[14:35] r m : Thanks
[14:35] Shai : also IB band trade
[14:36] Shai : 5th attempt at 7679
[14:36] Shai : 2 lows at 7660
[14:50] Shai : NF 7689
[14:50] Shai : is making a habit of closing at highs
[14:50] Shai : Today looked like a close at vwap/dpoc of 7655
[15:12] Shai : lots of vome traded at 7680
[15:12] Shai : *volume
[15:14] r m : bn sells off
[15:18] Shai : Nf also coming back to vwap
[15:19] Shai : BNF has got some volumes near 15670 which if not taken out tom would mean a retest of 15400 break
[15:20] Shai : NF still at all time highs
[15:20] Shai : surprisingly the original leader into the Modi run is some way off
[15:21] r m : Must have run too far too fast!
[15:21] Shai : Meanwhile the OI pic in both NF and BNF is about index short covering
[15:23] Shai : yes RM about 60% up since Feb 14th acompared to say 27 for nF
[15:23] r m : ok
[15:23] Shai : Feb 14 was around 10000 with NF at 6000
[15:25] Shai : closing in NF is at vwap indicating the market likes this area as new value
[15:25] Shai : most probabaly a 7570- 7750 kind of market consolidating now
[15:30] Shai : bye all
[15:30] r m : Thanks and bye, have a great evening 🙂
[15:30] Shai : Have a nice eve