General Chat Transcript
Room Name: Vtrender
Date and Time: May 03, 2013 09:04:58
[08:48] r m : Good Morning folks!
[08:50] r m : Results today: Titan, Bajaj Corp, HCC, HEG, Piramal Ent, Heidelberg Cement, NELCO, SRF, ACC
[08:50] Shai : Gm all
[08:52] Dushyant : gm all
[08:55] Pasi C : GM all
[08:59] Pasi C : Hi rm,Dushnt
[09:01] r m : Hi Shai, Dushyant, Pasi
[09:02] Dushyant : Gm.. Rm..Pasi
[09:06] Sumit : what time is the credit policy?
[09:06] Girish Desai : GM all!
[09:07] Shai : 11.00 am
[09:07] Girish Desai : Its really amazing that exactly on last RBI day NF/BN was at same level (may be about 50-60 pts lower now)
[09:07] r m : Hi Girish 🙂
[09:07] Shai : http://vtrender.com/content/nifty-profile-charts-0205
[09:08] Girish Desai : Hi RM, Pasi, Dushyant, Shai
[09:08] Shai : a flat open expected
[09:08] Shai : 5994 is first supp
[09:08] Shai : above 6024 we can go to 6056/ 6096
[09:09] Shai : below 5994 , 5956 and 5934 are supports
[09:09] Shai : Watch usdinr at 54.06
[09:09] Girish Desai : Shai – possibilty of NF ending at 6130+ today?
[09:10] Shai : extension is at 54.43/ 54.72 above 54.06 today
[09:10] Shai : Girish, certainlt big inventory change will happen on policy stmt
[09:11] Girish Desai : yes. For some reason I am biased to buy the dip today
[09:11] Shai : yes as long as those single prints remain, there will be buying attempts
[09:12] Shai : Personally I feel a dip in the afternoon and a rally into the close
[09:12] Shai : but let's see how it plays out
[09:14] Shai : and all those early morning usdinr longs have closed just like that
[09:15] Shai : 15 min trade
[09:15] Shai : BNF off
[09:18] Shai : BNF at the top of the single prints
[09:24] Shai : 12550 is supp in BNF below which it will visit 12500
[09:26] Shai : once more buyers at pdh in usdinr
[09:27] Shai : 54.04 is marked imp
[09:28] r m : quotes are delayed here
[09:32] Girish Desai : yes.
[09:33] Girish Desai : On RBI days, its better to save money/energy and trade only after 11:00
[09:44] r m : 🙂
[09:45] Dushyant : delayed…quotes
[09:45] Shai : am with support trying to rectify
[09:46] Shai : 12506 is the low in BNF
[09:47] Pasi C : 1501
[09:48] Pasi C : *12501
[09:48] Shai : yes
[09:49] Dushyant : 54.02…usdinr
[09:53] Shai : I think the early morning move is over
[09:53] Shai : now a state of drift
[09:58] Girish Desai : BNF trading in discuont only today or its been like that for this series?
[09:59] Shai : has been for some time now
[10:00] Shai : after 2 days the BNF and NF delta are again in opp direction
[10:00] Shai : inference- No conclusive direction
[10:01] Shai : sellers in usdinr below pdh/vwap
[10:04] r m : @Girish, May BNF has been in discount since early april, probably some dividend payouts are scheduled
[10:05] Girish Desai : Thanks RM.
[10:06] Shai : Looks like a 12650- 12440 play in BNF now
[10:08] Shai : vix is down to 16 on this move
[10:09] Girish Desai : 2 days back copper did a gap down from 380 to 374 and today the exactly reverse trade of gap up from 372 to 379. Bulls bears ka hisab barabar ho gaya!
[10:09] r m : 🙂
[10:10] Girish Desai : And I just kept looking longishly at 370 and kept thinking 360 might also come in a couple of days
[10:11] r m : too much influence of Kris 🙂
[10:12] Girish Desai : yes. If he was around, he would have said wait for 260 or 160!!
[10:12] r m : 🙂
[10:12] r m : FII data updated at http://tinyrul.com/desiCOT
[10:13] Girish Desai : On a serious note, if there is no bad news coming from Europe or US, commodities may have bottomed for now
[10:13] r m : big bro was long in index future, index CE, index PE and short in stock futures yesterday
[10:14] r m : oops, not long in index PE, they booked some longs yesterday
[10:16] Girish Desai : RM – are they net long this series or neutral?
[10:17] r m : net long in index future, index CE and index PE and net short in stock futures
[10:17] r m : Shai says that their net PE longs are hedge for cash holdings
[10:17] Girish Desai : Thanks.
[10:17] Girish Desai : last RBI day there was a rise-11.30 dip-immediate rise rise-almost freefall. Even those who had 100 point stop loss on those 4 swings would have lost money.
[10:18] r m : yes, stop loss are no use on RBI and IIP days, one just has to sit tight with prayers on one's lips, atheists may have a problem there 🙂
[10:19] Girish Desai : yes!
[10:19] r m : PCR was exactly 1 yesterday as per NSE site, so every one is equally hedged 😀
[10:20] Dushyant : nifty …handsome delta
[10:20] Kris 123 : atheists dont pray vocally – they pray silently anyhow – good morning friends 🙂
[10:20] r m : Hi Kris 🙂
[10:20] Dushyant : hi Keis
[10:20] Dushyant : Kris*
[10:21] Kris 123 : so Shai is going to kill all option buyers today first – and then – decide on next course of action! 🙂
[10:21] r m : I thought that at least that remark about atheists will draw your attention, maybe you keep searching for keywords like atheists, outlandish etc on net 😀
[10:21] Kris 123 : hi Rm, Dushyant, Girish, Shai 🙂
[10:22] Girish Desai : The good news for bulls today is Sudarshan Suhkani & S P Tulsian are both saying short in BN. Last RBI day they were saying new highs will come in BN
[10:23] Kris 123 : @Girish – you spoiled my dreams 🙁
[10:23] Girish Desai : The bad news for bulls today is Kris has made appearance 🙂 GM Kris!
[10:23] r m : @Girish, was about to type that but thought to give that opportunity to you 🙂
[10:23] Kris 123 : @Girish – GM – May month is long – patience is the order of the day!!
[10:24] Kris 123 : I am sure it is the dip buyers who will make me reach my destiny 🙂
[10:24] Girish Desai : Kris – The rise from 10k was too fast. So currently supporting bulls. No positions yet
[10:25] Girish Desai : *11k
[10:26] Kris 123 : @Girish – any move can be a trap in either direction – just by adjusting the time frame one level up or down! 🙂
[10:28] r m : @Kris, your views are totally matching with Lord Krishan, just "find and replace" Kauravas with Bulls 😀
[10:28] Kris 123 : I wanted to type yesterday that – yesterday rally is on one hand killing several bears – on the other – it actually is preparing some goats at 5800 – as the dip buyers
[10:29] r m : @Kris, but no shorts were added yesterday, i thought yesterday that shorts were being accumulated
[10:29] Kris 123 : whether we dip or not now is one question – but – the dip if at all it comes – is not a buy – in my view!
[10:30] Kris 123 : @Rm – big events will take even many big players also with surprise! 🙂
[10:30] Kris 123 : dont ask me what it is – i am still trying to figure out 🙂
[10:30] r m : 🙂
[10:31] Kris 123 : bn wants to make a pop up immediately post announcement – and should kill atleast 200 point sl also? 🙂
[10:34] Kris 123 : did a lot of hard work to be not called perma bear for a long time – looks i lost all of that in the last 2 months!
[10:35] Kris 123 : hope market unfolds soon to justify my stand –
[10:37] Pasi C : Hi kris
[10:37] Pasi C : r u a bear/bull now Kris
[10:37] Shai : 5900 ce/ pe both reducing today
[10:38] Shai : yesterday both added
[10:38] Kris 123 : @Pasi – holding PE!
[10:38] Pasi C : ok
[10:38] Kris 123 : but – not the regular popcorn – but for the entire month!
[10:38] Shai : I know that will change by close
[10:39] Pasi C : ok
[10:40] Shai : Evn in BN, I see more calls getting out on this dip than puts
[10:41] Shai : looks like they were thanful for this dip and consider it godsent 🙂
[10:41] r m : 🙂
[10:41] Dushyant : 🙂
[10:41] Kris 123 : @Shai – yes – they want to join the herd 🙂
[10:41] Shai : but they were brave to hold yesterday. wern't they?
[10:42] Kris 123 : yes – when the last brave bear turns bull – you know what happens 🙂
[10:42] r m : @Shai, is it possible to change the scale of Delta, i mean it is 250K for NF instead of 250 right now
[10:44] r m : @Kris, looks like you had a recent inflight meeting with Subbu 🙂
[10:44] r m : NF longs getting out
[10:45] Kris 123 : @Rm – that is all right – as long as you dont reveal the meeting inhelicoptor meeting with Ben 🙂
[10:45] r m : lol
[10:46] r m : alas all the greenbacks were bombed on the lazy guys on the ground, none give to fellow helicopter riders 🙂
[10:46] r m : *given
[10:48] Shai : I did some quick calcilations on RM's sheet
[10:48] Shai : calculations*
[10:49] r m : yes, saw your comments
[10:49] Shai : and found that out of the 125735 added in OI yesterday by FII's about 53693 were short puts
[10:49] Shai : in options that is
[10:49] r m : ok
[10:49] Shai : and 50009 were longs calls
[10:50] r m : yep
[10:50] Shai : what does that tell you?
[10:50] Shai : Kris?
[10:50] Kris 123 : @Shai – FII are expecting 6300 🙂
[10:51] Kris 123 : or is it 6900? 🙂
[10:51] Shai : 34609 longs built yesterday against 12320 shorts
[10:52] Shai : in futures
[10:54] Shai : 5957 is the current low
[10:54] Shai : first support for the day
[10:54] Shai : BNf is below support
[10:55] Shai : on days like this no support/ resistance holds
[10:57] Girish Desai : 100 pts tank even before Subbu showed his face!
[10:57] Shai : BNF morning shorts booking before subbu
[10:58] Kris 123 : @Shai – but they look popcorn traders 🙂
[10:58] Kris 123 : now – one big round of ramp up – to cleanse all short SL 🙂
[10:58] Kris 123 : then the real move!!
[11:00] Shai : 12430 algo
[11:00] Shai : looks like a cover order
[11:01] Kris 123 : announced?
[11:01] Girish Desai : market all over the place!!
[11:02] Shai : yes
[11:02] Shai : 5937/ 12330 low
[11:03] Girish Desai : 0.25% curr CRR unchanged
[11:04] Kris 123 : thanks Girish!!
[11:04] Shai : Central Bank Cuts Key Lending Rate by 25 BPs to 7.25%; Keeps Cash Reserve Ratio Unchanged at 4.0%
[11:04] Kris 123 : oh! thanks Subbu
[11:04] Girish Desai : 🙂
[11:05] Kris 123 : let us see what reasons bulls find now 🙂
[11:06] r m : elementary, it means that growth prospects are already very good hence subbu decided to let rates unchanged 😀
[11:06] Shai : BNF back to 12540, sl 12350, cmp 12415
[11:06] Pasi C : +ve news?@Shai
[11:09] Shai : mkt expected
[11:09] Shai : no surprise
[11:10] Shai : one more cut in june now he says
[11:10] Pasi C : ok
[11:11] Kris 123 : hmm.. looks Subbu made both sides gasping for air 🙂
[11:12] Shai : now 5.7 projected growth
[11:12] Kris 123 : India Cuts Rates by 0.25%, Says Little Room for Further Easing
[11:12] Kris 123 : cnbc!
[11:14] Shai : all the longs closed in NF and all the shorts in BNF- now what?
[11:14] Dushyant : still waiting on sidelines
[11:14] Girish Desai : Shai – the real directional move on last RBI day came in after 12:30pm
[11:14] Shai : yes
[11:14] Shai : now breakerages have begun to read the fine print
[11:15] Shai : soon the messages will start to HNI's
[11:15] Shai : *brokerages
[11:16] Kris 123 : @Shai – and what is the fine print?
[11:17] Shai : 12472
[11:17] Shai : 12520
[11:18] Shai : 12540 done
[11:18] Shai : (11:06) Shai :BNF back to 12540, sl 12350, cmp 12415
[11:19] Girish Desai : Shai – your target came too! I booed at 12492 from 12390, 100ts enough for me!
[11:19] Girish Desai : *booked
[11:20] Girish Desai : POC being at 12380 increased confidence in that long trade
[11:24] Shai : 🙂
[11:24] Shai : Looks now like a flat market till next weekend
[11:24] Shai : 12500 pivot in BN
[11:25] Dushyant : next weekend….:)
[11:26] Girish Desai : sellers back from early morning level og 12560?
[11:27] Shai : charts are not keeping pace with fast moving prices
[11:28] Shai : I'm told by the data provider that NSE has some issues with relay of fast moving ticks
[11:30] Kris 123 : (10:58) Kris 123:now – one big round of ramp up – to cleanse all short SL 🙂
[11:31] Shai : Spin doctors at work " economy in early stages of recovery- economic panel"
[11:31] Shai : They never detect early stages of a slowdown!
[11:32] r m : they are good at postmortem only 🙂
[11:32] r m : pathologists
[11:32] Girish Desai : Shai – they have even become very reliable reversal indicators
[11:32] Sumit : Shai – shorting levels for NF and BNF?
[11:33] Girish Desai : When Moodys downgrades India in 2009 March, it was time to buy!
[11:34] Shai : Sumit swing short is below 5935 only
[11:34] Shai : follow this chart- http://vtrender.com/sites/default/files/nifty_MP_36.png
[11:35] Sumit : thnx
[11:35] Shai : a berty aggressive intra day short here will have striuct sl at 5995
[11:35] Shai : tgt 5956/ 5935
[11:36] Shai : *very
[11:36] Shai : cmp 5974
[11:43] Shai : USDINR shows that there is no response post policy
[11:50] Shai : That 5900 strike is still neagative on OI
[11:50] Shai : very complex
[11:50] Dushyant : stop triggered?
[11:51] Shai : yes longs buiding again in NF
[11:51] Girish Desai : Very typical of RBI day. too fast moves in both direction.
[11:55] Shai : I have to restart the system. please
[11:56] Shai : please stand by
[11:56] Shai : They've put some measures in place. hope it solves the delay issue
[12:10] Shai : 5 ticjks of delay is there
[12:10] Shai : *ticks
[12:11] Shai : It's being worked on
[12:41] Shai : NF not able to move over IBH
[12:42] Shai : In the last few minutes some longs have come off
[12:42] Shai : that black horizontal line in both will be a signal of new longs in the system
[12:43] Shai : market is still with buyers at the moment
[12:48] Girish Desai : BN POC jumps to 12510
[12:50] Girish Desai : Shai – now the quotes seem correct
[12:54] Shai : yes a few ticks now
[12:54] Shai : they say it may happen again in fast moving environ, but are working on a permanent solution
[12:55] Girish Desai : Is it esginal issue or NSE issue?
[12:55] Shai : esignal says it's an nse issue 🙂
[12:57] Dushyant : long cmng off….is it afternoon entry chance?
[12:58] Shai : yes the dip buyer has showed up around 1- 1.30
[12:58] Shai : delta should increase and we should stay abv vwap
[12:58] Dushyant : ok
[13:03] Girish Desai : Shai – of course noboday wants to take the blame. Its always someone else's problem. 5 ticks delay is probably acceptable since we are not HFT or something like that!
[13:08] Shai : 🙂
[13:09] Shai : vix down 4%
[13:10] Shai : BNF losing all the longs
[13:13] Girish Desai : POC in BN moving up-down as if bulls and bears are planing table tennis today
[13:14] Shai : very good volumes in BNf today
[13:15] Girish Desai : Brokers must be loving Subbu and want his appearance once a month!
[13:15] r m : Brokers may pass a resolution demanding weeky monitory policy 😀
[13:15] Girish Desai : 🙂
[13:16] Girish Desai : even if Subbu comes and says no change – they are OK as long as it creates 200 pts up down 4 itmes on that day
[13:17] Shai : BNF profile has single prints at the top and bottom today
[13:18] Shai : and a developing center
[13:44] Shai : BNf close to that 12350 support again
[13:56] Shai : BNf has to cross 12417 again for a lift higher
[13:57] Shai : NF- 5967
[13:57] Shai : orderflow is very mixed today and changing
[13:59] Shai : 5984/6000 should come abv 5867, sl 5953
[13:59] Shai : *abv 5967
[14:00] Shai : Larger profile of the day in NF and USDINR is balanced
[14:00] Shai : Only BNf is irregular
[14:15] Shai : longs struggling at vwap in NF
[14:20] Shai : keep stop at 5953 is you traded that intra call
[14:34] Shai : close should be 5980 May
[14:34] Shai : and spot at that 5971 number
[14:35] Girish Desai : some sellers in NF around VWAP
[14:45] Girish Desai : Longs not giving confidence. Shorts lacking inspiration – closing terminal and just taking home early morning profits is what I am doing.
[14:45] Shai : 🙂
[14:45] Shai : more of an anti- climx day today
[14:45] Shai : think NF is inside yesterday
[14:46] Shai : yes it is
[14:46] r m : guess writers got tired of buyers making runaway profits on RBI day 🙂
[14:46] Girish Desai : morning had quite fast move if one was on right side of the trade there was good profits to be taken
[14:47] Shai : it's just weird that rbi day will end up as inside day
[14:47] Girish Desai : RM – vix down and may be some more decay for the weekend – writers would be delighted to see same levels on Monday morning
[14:48] r m : yeah!
[14:48] Shai : some ticks went missing in BNF
[14:48] Shai : revising now
[14:49] Shai : done
[14:49] r m : looks like longs covering in nf and shorts in bnf
[14:53] Shai : No OTF coming for fri close
[14:53] Girish Desai : OTF has taken off
[14:54] Sumit : OTF?
[14:55] Girish Desai : Sumit – OTF = other time frame buyers/sellers.
[14:55] Sumit : THNX
[14:55] Girish Desai : Shai/RM – is that correct?
[14:55] Shai : yes
[14:56] r m : very much 🙂
[14:56] r m : locals, me and a few more here 🙂
[14:56] Dushyant : 🙂
[14:56] Girish Desai : We have one OTF in the room – Kris. He has his one timeframe KTF 🙂
[14:56] r m : 🙂
[14:57] r m : His closing time appearance is due now 🙂
[14:58] Girish Desai : yes. He first calls up his gang in Mauritius and then makes an appearance!
[14:58] r m : now a day's he is taking contra FII position
[14:58] Girish Desai : oops. so even FIIs will be in trouble!
[14:59] r m : 🙂
[14:59] r m : FII have been net long in NF and index CE for some time now
[14:59] Kris 123 : yes – he made his mandatory closing appearance 🙂
[15:00] Girish Desai : 🙂
[15:00] r m : Welcome Kris 🙂
[15:00] Kris 123 : he is foolish to such an extent that – even when Shai, his friends and sundry are massively long – he is not ready to leave his position !
[15:01] Kris 123 : sad part is – he is not even learning from mistakes 🙂
[15:03] Kris 123 : 5700PE lost 50% from my public tweet – not bad – considering the hype of the rally.
[15:03] r m : @Kris, MOAI (mother of all indices) is hesitating at the top again
[15:03] Kris 123 : this being a very long month – and – with some popcorning – i am not in such a bad shape !
[15:04] Kris 123 : rather – the trade position is decent – i am in bad shape!
[15:04] r m : that 5953 broker only on Kris's arrival 🙂
[15:04] Girish Desai : Kris – the bears really needed your appearance!
[15:05] Kris 123 : @Girish – as I said – trade position is decent – but I am losing belief – quite tough to hold – when every trader that you respect is thinking other way!
[15:06] r m : @Kris, I don't think anyone else takes such a long term view as you do
[15:06] r m : i mean anyone else here
[15:06] r m : we are mostly daily wagers with some folks getting their pay checks on Fridays 🙂
[15:07] Kris 123 : leave the regular noise – i dont care much – but – most of the traders i respect here – are not in favor of my stand – solacing myself with only argument that – their time frame is different from mine!
[15:07] r m : looks like the price is taking your side though 🙂
[15:08] r m : @Girish, too many attacks on 12350 – naturally inspired by Kris 🙂
[15:09] Girish Desai : Kris – my timeframe was 10 minutes in the morning! Afternoon I tried to stretch to 1 hour but gave up 🙂
[15:10] Kris 123 : @Girish – :):):)
[15:10] Kris 123 : all the smilies are a nostalgia on to one of our very early conversations here in the room!
[15:11] Kris 123 : regarding my time frame being too short!!
[15:11] r m : @Kris, when your time frame used to be ten minute and Griish's a week or so?
[15:11] Girish Desai : yes RM. its reversed now
[15:12] Kris 123 : @rm – yes 🙂
[15:12] Kris 123 : @rm,girish – now I am a generational investor 🙂
[15:12] Kris 123 : working hard at developing instinct on a larger time frame!
[15:13] Kris 123 : trading the shorter time frame is something that I still take pride – and do it regularly – though without making much noise 🙂
[15:13] r m : or working too hard as a developer in other fields to be able to devote time to micro movements in market? 🙂
[15:13] Girish Desai : Kris – that definitely needs patience.
[15:13] Kris 123 : @rm – yes – that is another constraint!
[15:14] Girish Desai : Shai – today's profile has so many letters at each price – it almost looks like a composite profile!
[15:15] Kris 123 : dont know if you people noticed or not – 5400PE writers are covering for the last 2 days – these are the same people who wrote it in April when we were knocking there!
[15:15] Kris 123 : I consider that an important signal – hope you people agree!
[15:16] r m : bnf at series low
[15:16] Girish Desai : Kris – that also need to be looked at along with other strike PEs
[15:16] Girish Desai : I haven't tracked much of options for 2-3 weeks
[15:17] r m : @Kris, i noticed that covering only yesterday but attributed that to profit booking
[15:17] Kris 123 : @Girish – as I said – I am biased – and looking for anything or everything to cling on to – price should oblige next week – let us see!
[15:17] Girish Desai : Kris 🙂
[15:17] Kris 123 : @rm – it is profit booking – but – I guess it is by writers who wrote it in April – I remember May 5400PE was at 150+ at that moment!
[15:19] Shai : BNF in a spike
[15:19] Kris 123 : this rally served one purpose – now the dip buyers will start coming in at 5850 – specially the wave counters 🙂
[15:19] Kris 123 : for me they are the biggest catalysts for any major fall!
[15:20] r m : yes Kris, that makes sense
[15:20] Shai : yesterday's single prints are closed in NF almost
[15:20] Shai : so that's +1 to bears
[15:20] Shai : BNf below spike lows on Monday calls up 11980
[15:21] Girish Desai : Shai – there was a gap up last week. was that close to 12k?
[15:21] Kris 123 : @Rm – this time I am taking position opposite Shai's friends also – please note 🙂
[15:22] Kris 123 : hope if we do fall now – I will be getting rid of those baseless allegations 🙂
[15:22] Shai : from 12268 maybe
[15:22] Shai : I'm not sure on gaps
[15:22] Shai : Kris I think we will see long calls closed and short futs in data today
[15:23] Dushyant : open?
[15:23] Kris 123 : @Shai – but I have nothing to do with it – I am short from a few days 🙂
[15:23] Kris 123 : yeah – adding a few pe whenever I can – day trade and bring average down!
[15:23] Shai : Dushyant it should be ibn today's range
[15:23] Shai : I know that does not say much 🙂
[15:24] Girish Desai : pretty much repeat of previous RBI day
[15:24] r m : Yes Kris, that is what I told Girish, you are divorcing Shai's friends too 🙂
[15:24] Dushyant : 🙂
[15:25] Shai : pick up some 11500 and 12000 pe's if we go lower than today's low on mon
[15:25] Kris 123 : hmm… Rm – Shai is giving permission for 800 points in BN – subject to some conditions!
[15:26] Kris 123 : not bad for an alpa santoshi like me 🙂
[15:26] r m : my remarks are appearing delayed just like nse quotes 🙂
[15:29] Girish Desai : big volumes in last few ticks
[15:29] Kris 123 : all right – happy weekend all!
[15:29] Girish Desai : Bye Kris
[15:29] Kris 123 : see you Monday
[15:29] Kris 123 : all of you please pray for a black Monday 🙂
[15:30] r m : Thanks and bye folks, have a great weekend 🙂
[15:30] Shai : Bye all
[15:30] Shai : happy weekend
[15:30] Girish Desai : Bye all
[15:31] r m : @Kris, atheists too? 😀
[15:31] Dushyant : bye all