General Chat Transcript
Room Name: Vtrender
Date and Time: April 30, 2013 09:06:54
[08:49] Dushyant : gm all
[09:07] Shai : Gm all
[09:09] r m : Good Morning folks!
[09:09] Girish Desai : GM all!
[09:09] r m : Hi Dushyant, Shai, Girish 🙂
[09:09] Dushyant : hi rm , girish
[09:10] Shai : sgx projects a gap up
[09:11] Shai : 5984/94 is the ref lines abv
[09:11] Shai : 5924/34 support
[09:11] Girish Desai : Hi RM, Dushyant, Shai
[09:11] Shai : extensions would be to 6036-50 and down to 5828 below
[09:12] Girish Desai : SGX was showing 5940 yesterday night when ES was at 1596
[09:12] Shai : 12509 supp in BNF april/ 12712 res
[09:12] Shai : HLL is the driver
[09:13] Shai : Offer is by the parent to buy at 600/- per share
[09:14] Shai : usdinr not very enthusiatic though
[09:14] Shai : just below pdl
[09:14] Shai : 54.20 is again supp
[09:18] Shai : keep the NF buy abv 5984 only
[09:19] Shai : BNF is within range, NF above
[09:20] Shai : once again prem is shifty
[09:20] Shai : 5952- 5957
[09:24] Shai : HLL is 592- high of 597
[09:25] Girish Desai : BN/NF not much excited my ES move yeterday
[09:26] r m : indian punters will be calculating impact of huge HLL purchase by unilever on USDINR
[09:26] Shai : up 19% now
[09:27] Shai : 17.9 for the day actually
[09:31] Shai : HLL impact over – another iumpact will come from the SC- CBI duo shortly
[09:32] r m : 😀
[09:32] Girish Desai : 🙂
[09:32] Shai : some jolt to the index expected ( as also the goverenment)
[09:32] r m : this govt is shockproof, they have got an excellent insulator "Shamelessness" 😀
[09:34] Sumit : Shai – NF sell below?
[09:35] Shai : Sell below is 5924, sl 5938
[09:36] Shai : tgt then becomes 5878/ 5828- first one
[09:36] Shai : not intra
[09:37] Shai : Orderflow is not supporting a breakout yet
[09:37] Shai : but price will have to come back into range for sellers to be active
[09:38] Shai : alternatively anything around 5934 marked by improving delta is a buy
[09:42] Shai : If the HUL impact was taken out we would be falt here
[09:42] Shai : as the BNF has not responded to higher prices
[09:43] Shai : *flat
[09:43] r m : maybe they are managing other scrips to keep nifty in check, else it would have shot up to +100
[09:45] Shai : possible
[09:45] Shai : BNF in the spike zone of yesterday- 12640- 11540
[09:48] Shai : vah holding in BNF
[09:48] Shai : one trip back to 12640, cmp 12599, sl 12555
[09:53] Shai : 5940 does not show volumes
[09:53] Shai : but 5956 has big trades
[09:55] Girish Desai : Shai – is the data correct for that initial spike?
[09:58] Shai : yes- reloaded
[09:58] Shai : are charts up?
[09:58] Dushyant : yes
[09:58] Girish Desai : yes.
[09:59] Shai : ok- thanks
[10:01] Shai : exit the BNF intra longs at 12590 here
[10:02] Shai : no conviction yet
[10:26] Shai : still no buyers in NF or BNF here
[10:26] Girish Desai : Seems like buyers ran out of money after they shopped relentlessly for last 3 weeks!
[10:27] r m : 🙂
[10:27] Girish Desai : May be now is time to pay their credit card bill too..
[10:30] Kris 123 : time is around where they are going to pay with interest !!
[10:30] Kris 123 : hello friends 🙂
[10:31] Dushyant : hi
[10:32] r m : Hi Kris 🙂
[10:35] Shai : t
[10:35] Pasi C : Hi Kris
[10:36] Kris 123 : Hi Pasi, Rm, Shai, Dushyant, Girish 🙂
[10:38] Shai : 5936 is the low
[10:38] Pasi C : Kris whats ur call CE/PE?
[10:45] Kris 123 : @Pasi – I am on and off – so my positions are not applicable intraday nowadays – I am an investor now 🙂
[10:46] Kris 123 : And – my position for May series is 5700/5800 PE –
[10:46] Kris 123 : have no idea to cover them – either with any SL or – with any target –
[10:46] Kris 123 : will cover only towards May series end – or …
[10:47] Kris 123 : Rm knows my number 🙂
[10:47] r m : 🙂
[10:47] r m : 4949 🙂
[10:48] Kris 123 : I know what Rm would say – it is 1000 points from here – and it is outlandishly outlandish 🙂
[10:48] Pasi C : ok
[10:48] Dushyant : 🙂
[10:49] r m : @Kris, "Sell in May and go away"? 🙂
[10:49] Dushyant : cover in oct
[10:50] r m : 😀
[11:06] Shai : 5935
[11:08] Shai C : (09:11) Shai :5924/34 support
[11:14] Shai : Sell NF below 5924, with a SL of 5938. tgt would be 5828 by friday
[11:14] Shai : or buy a 5800 pe if 5924 breaks now
[11:15] Shai : BNf through the value area to complete 80%
[11:16] Shai : 12470 is BNf support
[11:18] Pasi C : got in 5800 PE whats the res now Shai
[11:21] Shai : Trend has to stay below IBL now
[11:21] Shai : Pasi intra tgt is 5896/ 5878
[11:22] Shai : same sl
[11:23] Shai : 5896
[11:29] Shai : intra stops reveised to 5926
[11:34] Kris 123 : is the fall without volumes?
[11:46] Shai : not rising volumes
[11:47] Shai : 5885 is the current low
[11:48] Shai : trade taken from 5924
[11:48] Shai : below 5878 apr we can add for 5828 first tgt
[11:54] Shai : test
[12:13] Shai : BNF has to test 12350 again
[12:14] Shai : Unilver's timing could not have been better to shake out a few bears
[12:15] Shai : the actual mkt is down only 14 points
[12:15] Shai : Nifty
[12:25] Shai : Profile coming into a DD
[12:25] Shai : The morning distribution is not very clear though
[12:27] Shai : unlike yesterday we have two reds in NF and BNf today which show seller intent from the open price
[12:28] Shai : (09:37) Shai :Orderflow is not supporting a breakout yet
[12:51] Pasi C : sl for NF shorts Shai?
[12:52] r m : Participant data updated http://tinyurl.com/desiCOT
[12:52] r m : no significant change yesterday
[12:54] Shai : 5924
[12:54] Shai : thanks RM
[12:54] r m : welcome
[12:54] Pasi C : ok
[12:59] Shai : Part book NF shorts if we cross 5884 now
[13:00] Shai : don't add new shorts here
[13:02] Shai : done- (12:13) Shai :BNF has to test 12350 again
[13:03] Shai : No new seller seen hence advise to be careful as RBI meets on fri
[13:05] Shai : seeing shorts cover in NF
[13:11] Shai : Prem is almost flat now in NF
[13:17] Shai : If day low holds now in BNF we can go back to 12470- 12510 by thurs
[13:24] Shai : usdinr sharply lower
[13:25] Shai : all those morning buyers in usdinr cleared at pdl and went short
[13:26] Shai : 5917/ 5924 tsl's for shorts now
[13:26] Shai : hope at least part booking was done
[13:27] Dushyant : 🙂
[13:27] Shai : That usdinr move is very sharp
[13:28] Shai : will encourage bulls
[13:44] Sumit : Shai – one last upside in NF and BNF before RBI policy?
[13:57] Kris 123 : oh! looks bulls are making one more valient move!! – wishing the best to them 🙂
[13:58] r m : @Kris, bulls are terrified since your arrival on the scene 🙂
[13:58] Shai : Sumit delat does not support longs here
[13:58] Dushyant : 🙂
[13:59] Shai : *delta
[13:59] Shai : 5938 and below will keep inviting shorts
[14:00] Shai : One should not think longs for intra when both NF/ bnf are red
[14:00] Sumit : I booked full @ 5884
[14:00] Sumit : should I reenter shorts?
[14:01] Shai : Not here now
[14:02] Shai : if you get 5910 again then you can short with same sl
[14:04] Shai : The big boys sold heavily near 5956 today
[14:04] Sumit : ok thnx
[14:04] Shai : will be interesting to see Rm's data chart on thurs
[14:05] r m : @Shai, I guess that Kris made his entry around that point? 🙂
[14:05] Shai : 5971 spot was the last high I think
[14:05] Shai : before we went to 5480
[14:06] r m : yes
[14:06] Shai : this high is at 5962
[14:07] r m : 5971 touched in feb as well as march
[14:07] Shai : ok
[14:10] Shai : 12352 held on second test
[14:10] Shai : I don't think we will break 5862 spot before RBI
[14:10] r m : so ball is in Subbu's court now
[14:11] Shai : and he does nothing with it 🙂
[14:11] r m : lol
[14:11] Girish Desai : GA all!
[14:11] Dushyant : lol
[14:11] r m : GA Girish
[14:11] Girish Desai : RM – I just stepped out for couple of hrs and you managed to tank the market big time!!
[14:12] Shai : abv 12455 we go to 12510 now, sl 12425
[14:12] r m : well, Kris made a short appearance 🙂
[14:12] Girish Desai : OK. that explains everything 🙂
[14:12] Shai : 🙂
[14:13] Shai : I didn't catch any of kris statements today except this one – 11:34 Kris 1: is the fall without volumes?
[14:14] Shai : and then he went to ensure that everything went to plan 😉
[14:14] Girish Desai : 🙂
[14:14] r m : yeah, he just gave a hint about 4949 🙂
[14:14] Shai : 12470
[14:14] Shai : He was calling up all his FII friends to ensure the volumes come in 🙂
[14:15] r m : that is why when you reloaded the data, volume bars appeared big 🙂
[14:15] Shai : yes it did not match up to the info he may have had already
[14:16] Shai : book 12498
[14:17] Shai : (14:12) Shai :abv 12455 we go to 12510 now, sl 12425
[14:17] r m : Thanks Shai, quick work 🙂
[14:17] Shai : oh
[14:18] Girish Desai : What was the fall about? some news?
[14:18] r m : guess they got a good price to short with HLL news
[14:20] Shai : went to 12520
[14:20] r m : yes
[14:21] Dushyant : 5924..
[14:31] Girish Desai : Shai – Has NSE/e-signal fixed the lag issue now?
[14:32] r m : today it appears a bit late here
[14:33] Girish Desai : yes. I think yesterday it was fine
[14:33] r m : yes, it was ok yesterday, even today morning was ok
[14:34] r m : guess even the signal gets tired by afternoon 🙂
[14:55] Shai : yes there are issues detected again
[14:55] Shai : have taken it up and working for a solution
[14:56] Shai : If spot looks to close above 5918, do not carry aggressive qty of shorts
[14:56] Shai : there are shorts in the system but they have booked at lower levels
[14:58] Shai : mkt will load up only after RBI now
[14:58] Shai : thurs could be speculators day out
[15:01] Shai : some more shorts closing
[15:07] Shai : big mismatch in the premiums again
[15:08] Pasi C : take NF buy Shai?
[15:08] Shai : BNF is 70 points in discount
[15:08] Shai : No pasi
[15:08] Shai : Not here
[15:08] r m : May BNF has been in discount earlier too even when April BNF used to be in premium
[15:11] Shai : that usdinr move was rotten 🙂
[15:11] Shai : 53.97 now
[15:23] Shai : Nifty leaves both longs and shorts in no man's land
[15:24] Girish Desai : Shai – BN is closing not too far from where it closed yesterday
[15:24] Girish Desai : 12540 yesterday and abt 50 pts down today
[15:24] Shai : yes
[15:24] Shai : selling near 12700 and buying near 12350
[15:25] Shai : from last one week
[15:25] Girish Desai : yes – most sell off only limited to intraday
[15:27] r m : NF closing above VAH
[15:27] Dushyant : shud carry shorts?
[15:29] Shai : Cut down on qty, close is not suggestive of anything
[15:29] Dushyant : ok
[15:30] Dushyant : closed….pos nil
[15:30] Shai : maybe 'cos of the holiday tom traders closed shorts
[15:30] Shai : spx can do 1606 in these 2 sessions
[15:30] r m : Thanks and bye folks, Happy Maharashtra Day 🙂
[15:30] Dushyant : bye all
[15:31] Shai : Bye all
[15:31] r m : Happy Labor day too 🙂
[15:31] Pasi C : OF buy in BN?
[15:31] Shai : yes signal at 12481
[15:32] Pasi C : OF wave red in chart?
[15:32] Shai : it's a marginal call
[15:33] Shai : sonmetimes the diff is 3 bars
[15:33] Shai : abv 5938 on thurs we can go long again for 5984
[15:33] Shai : 5984/ 6036 with stops at 5917
[15:34] Shai : usdinr traders anticpating a bullish move for stocks on RBi day
———————————————————————————————————————————————
General Chat Transcript
Room Name: Vtrender
Date and Time: April 29, 2013 09:09:20
[08:42] Dushyant : gm all
[08:45] r m : Good Morning folks!
[08:54] Pasi C : GM all
[09:09] Shai : Gm all
[09:10] Shai : Larger swing charts for buyers / sellers in the MCX space
[09:10] Shai : both NF and BNF still net long
[09:14] Girish Desai : GM all!
[09:15] r m : Hi Girish 🙂
[09:16] Girish Desai : Hi RM, Shai, Pasi, Dushyant
[09:17] Pasi C : Hi GD,rm,dushynt,
[09:17] r m : Hi Pasi
[09:25] Shai : Not much change from friday
[09:26] Shai : Open has been in range and just around value low
[09:26] Shai : http://vtrender.com/content/profile-charts-may-series-nf-and-bnf
[09:33] Shai : BNF abv 12535 will go to 12595, sl 12505
[09:44] Shai : volume is very poor in first 30 minutes
[09:49] Shai : Looks like a low volume rotational day on our hands today
[09:50] Girish Desai : RM – the other Chris has given a sell on ES based on his system.
[09:51] r m : @Girish, Thanks
[09:51] r m : now both Ch(K)ris are synchronized 🙂
[09:51] Girish Desai : 🙂
[09:52] Girish Desai : Actually ES may be the hardest one to trade.
[09:52] r m : yes
[09:57] Shai : USDINR at current IB low takes indices to current IB high
[10:13] Shai : For the day today, the only imp aspect is if we break out around 10.45/ 11 today to form a trend day
[10:13] Shai : structure supports a trend day from this environment
[10:13] r m : FII data updated at http://tinyurl.com/desiCOT
[10:13] Shai : but anything later than 11, even that is off
[10:13] r m : no significant change on Friday
[10:18] Pasi C : 12505 strict sl?@Shai
[10:23] Shai : could have been exited at cost as delta slowed down
[10:23] Pasi C : ok now i kept 12471
[10:24] Dushyant : mine..triggered
[10:24] Shai : better
[10:24] Shai : Thanks RM
[10:24] r m : welcome
[10:26] Shai : There are some changes we have done to the BNF/ NF delta and the current one we have on screen uses volume traded at all ticks which gives better info
[10:26] Shai : you will also see a difference in heavy volume and low volume periods
[10:27] Shai : Like NF for eg shows low levels of delta which equals poor trading interest
[10:28] Shai : similarly BNF will remain positive for the day as long as that net figure is green
[10:33] Girish Desai : Thanks for the info Shai. Is this applicable to comms charts too?
[10:33] Shai : No yet
[10:33] Shai : Not yet
[10:34] Shai : but applies to usdinr too
[10:34] Shai : By the end of this week we will have it across mcx too
[10:35] Shai : @RM, FII's continue to be net long in index after that big covering?
[10:36] Dushyant : isnt it too violent to track?
[10:36] Girish Desai : Thanks Shai
[10:36] Shai : yes if you are not an intra day trader then it is
[10:36] Shai : but if you want to take large positions for intra day, then it helps with timing
[10:37] r m : @Shai, yes, net long in Index futures and Index CE
[10:38] r m : on Friday a small addition was there in net longs
[10:38] Vikas : i thought earlier also we are having 'volume traded at all ticks'!?(and counting which one was on bid &ask)
[10:39] Shai : It's complex, but if you undertand tick data you will know that there are upticks and downticks based on price and ask traded and bid traded based on volume
[10:40] Shai : it's just different methods of undertanding tick data and the relation to price
[10:41] Shai : How it helps is- let''s see BNF at VAL now
[10:41] Shai : MP will tell us to look for sellers below VAL
[10:42] Dushyant : yeah..i was just seeing it…bnf
[10:42] Shai : Our delta chart is not showing sellers yet
[10:42] r m : it is showing buyers every time VAL comes
[10:42] Shai : so one can continue holding long positions or refrain from going short here
[10:42] Dushyant : ok
[10:43] Vikas : ok
[10:43] Shai : OTOH in NF there were no buyers abv VAH
[10:43] Shai : and red came as soon as we came back in
[10:43] Shai : which means we will see NF again
[10:43] Shai : VAL* again
[10:44] Dushyant : got that…:)
[10:44] Shai : So I would not buy at VAH in NF at 9.55
[10:44] Shai : as there were no new buyers
[10:45] Shai : similarly we can use delta at vwap and dpoc to see which side is heavier for short intra day trades
[10:45] Shai : see USDINR below vwap
[10:45] Shai : more sellers came
[10:45] Dushyant : wow
[10:46] Shai : short intra as in small intra trades
[10:47] Vikas : ok..thanks.
[10:49] Dushyant : bnf …abv vwap..more greens
[10:55] Girish Desai : Dushyant – Today has been a slow day so far. May be better buy would be abv IBH today
[10:56] Dushyant : yes girish:)
[10:57] r m : nifty is doing its best to control BNF's pre-Subbu jitters 🙂
[11:00] Girish Desai : RM – the way BN recovered from 11k to 12.7k, there may be a pause/correction till Subbu-speak and then again a rally
[11:04] r m : yes Girish, either that or a jerky rise till Subbu's revelations and a downhill journey after that?
[11:05] Girish Desai : Shai – what is the swing low of INR for past week or so?
[11:06] Girish Desai : RM – true. I am just guessing based on the chart. If sell off was the eventual goal there may not have been a relentless 1700 points rise
[11:06] r m : yes Grisih
[11:07] r m : *Girish (typing bug bit me too) 🙂
[11:07] Girish Desai : 🙂
[11:07] Girish Desai : copper seems to be a buy here with small SL. Below 375 copper might go downhill
[11:07] Kris 123 : Shai says FII have not been caught on such a wrong foot in the recent times – most of them are feeling a raging anger – and are looking for a revenge in the first opportunity 🙂
[11:08] Shai : 54.20 usdinr may contract
[11:08] Kris 123 : Hello Girish, Rm, Shai, Dushyant 🙂
[11:08] Dushyant : hi kris
[11:08] r m : Hi Kris 🙂
[11:08] r m : doing 24 X 7 job?
[11:08] Girish Desai : Thanks Shai. Any break below 54.xx might happen only if things tuen out to be +ve after Subbu's speak
[11:09] Shai : yes
[11:09] Girish Desai : GM Kris! Just when I was making a plan to take BN to 13k+, you have entered in syle 🙂
[11:09] Shai : GM Kris
[11:09] Shai : RM says that they are net long now- I confirmed again 🙂
[11:10] Kris 123 : my irregular attendance has been completely exploited!!
[11:10] Shai : so the revenge trade is on the way up?
[11:10] Kris 123 : I dont know Shai – you should know it better 🙂
[11:11] Sumit : kris – still holding 5700pe?
[11:11] Kris 123 : but I guess very little chance for that – the best way for them would be to really put the dip buyers into soup – which is by selling equity on a continuous basis.
[11:11] Kris 123 : dont know how it works out – but still am looking to 4949 in the next 40 days – max 🙂
[11:12] Dushyant : 🙂
[11:14] Girish Desai : Posting a chart for copper dilemma – https://docs.google.com/file/d/0B0RMNOutgho8eWVVRGNkVWROV2c/edit?usp=sharing
[11:15] Girish Desai : In such cases, from my previous experience, the larger Inverse H&S wins. Have seen it happen in Crude quite a few times.
[11:16] r m : Thanks Girish!
[11:20] Kris 123 : @Sumit – yes carrying the PE
[11:20] Kris 123 : sorry – did not see the question!
[11:20] r m : just see the color and size of delta bars in NF since Kris's entry 🙂
[11:21] Kris 123 : @Sumit – it looks embarrassing if I have to state any targets for the PE – and – no SL also – I will hold them till May end or designated price target 🙂
[11:21] Kris 123 : will sure update on tweet as well as here – if I exit!
[11:22] Girish Desai : RM – Since Kris stepped in right when I bought copper there is every chance that this long trade may fail 🙂
[11:22] Kris 123 : @Girish – this is the month of truth – for world markets – in my view – and – let us see – how much wrong I can be 🙂
[11:22] Kris 123 : I meant May 🙂
[11:23] Girish Desai : Kris – I am also short but only in ES. There's US equivalent of you named Chris. He has suggested short in ES too!
[11:25] Kris 123 : @Girish – a few PE in NF do not hurt 🙂
[11:27] Kris 123 : ofcourse you may want to delay them by a day or two 🙂
[11:27] Kris 123 : but – timing these is very difficult – unless you are a Shai 🙂
[11:27] Girish Desai : 🙂
[11:31] Kris 123 : @Rm – Shai was speaking a trend day – you think he meant only break out – and not break down? 🙂
[11:34] r m : @Kris, could be either, but I think it will be neither 🙂
[11:36] Shai : http://vtrender.com/content/nf-bnf-may-cumulative-charts
[11:36] Shai : Kris , not out of the picture
[11:36] r m : Thanks Shai
[11:36] Shai : trend day has to start latest by 11.00
[11:37] Shai : 3 sideways profiles in NF now
[11:37] Shai : breakout will be big whenever it comes
[11:38] Kris 123 : *break will be big whenever it comes!! 🙂
[11:38] Shai : BNF is moving lower in value and needs to cross IBH today to retain upside momentum
[11:39] Girish Desai : Thanks for cumulative charts Shai. BNF nicely poised at VWAP now.
[11:39] r m : Friday was inside day in Nifty spot
[11:42] Shai : Yes Girish
[11:43] Kris 123 : ok friends – will be on and off for this entire month –
[11:43] Kris 123 : @Girish, Shai – please co-operate – you know my number 🙂
[11:44] Kris 123 : as you know I am not greedy – and ready to take up even 100 points above also 🙂
[11:45] Girish Desai : Kris 🙂
[11:47] r m : @Kris 🙂
[12:02] Shai : back to 12540 in BNF now
[12:02] Shai : The delta showed no new sellers in BNF at VAL
[12:03] Shai : There are no new buyers also
[12:03] Shai : just local to local trading
[12:03] Girish Desai : Shai – BNF/NF may just keep drifting directionlessly until Subbu speaks ?
[12:03] Shai : It may
[12:03] Shai : There 's some activity building up in 13400+ calls
[12:03] r m : but traders are too action oriented to let it drift for such a long time 🙂
[12:04] Girish Desai : RM – the ones who pulled this up 1700 points in 2 weeks will probably be patient enough even if it corrects 500-600 points
[12:04] Girish Desai : ?
[12:05] Shai : val tested in NF and met no new sellers
[12:06] r m : true Girish, but meanwhile the smaller time frame guys may also continue playing? they need some range to play too
[12:06] Shai : sate of drift
[12:06] Shai : *state of drift
[12:07] r m : @Shai, earlier delta used to be in thousands and millions, is it due to change of method of calculation that it has dropped to double digits now?
[12:08] r m : @Girish, that fpr that 1700 point guy, a 500 point correction will be a dip to buy 🙂
[12:09] Girish Desai : yes
[12:10] Girish Desai : To me BN is a sell only below 11900 as per chart posted by Shai this morning
[12:11] Girish Desai : Shai – was 12570 the high of Friday afternoon before it sold of 100 points?
[12:13] Girish Desai : or may be it was 12670
[12:14] r m : 12670
[12:15] Girish Desai : Thanks RM
[12:43] Girish Desai : Pretty decent move in copper from my long entry @379.6 – but again the same confusion: take profits or hold for larger picture to materalize 🙁
[12:46] Girish Desai : Decided to get half-greedy and booked 50% @382.20
[12:48] r m : Congrats Girish! or rather half Congrats! 🙂
[12:48] Girish Desai : lol
[13:01] Shai : currency pointing to equities going higher
[13:02] Shai : 12551 is the new refernce point for longs
[13:02] Shai : 5902 in NF
[13:20] Shai : longs buiding up in BNF
[13:21] Shai : 12640/ 12590 tgts now abv 12552
[13:22] r m : SL VAL?
[13:24] Shai : or just below vwap
[13:24] r m : thanks
[13:32] Shai : Nf getting sellers at vwap/ BNF buyers
[13:33] Shai : result= market not going anywhere
[13:33] Shai : I'll prefer a long bias in BNF as there are definite signs of price rejection at day lows
[13:34] Shai : see the tails in BNF on friday and today
[13:38] Girish Desai : Shai – BN has been lifeless since Friday aternoon
[13:39] Shai : yes
[13:39] Shai : icici knocked it around fri
[13:39] Girish Desai : Or may be this is the consolidation phase after that big run up.
[13:40] Shai : but even icici is quite now
[13:41] Shai : had to – was busy getting rid of all the shorts before expiry
[13:41] Dushyant : icic target 1070?
[14:07] Dushyant : 🙁
[14:09] Shai : not tracking icici actively
[14:09] Shai : BNf did 12551 and came back?
[14:10] r m : did not touch 12550 i think
[14:11] r m : 12549.90 is all it could attain 🙂
[14:11] Girish Desai : may be it came down to get recharged and will attepmt again
[14:12] r m : yes, maybe it was having a go at the SLs at Previous High at 12549 😀
[14:13] Shai : yes in flat environs, better to buy mkt than place sl's
[14:14] Shai : If BNf closes here, highs odds that it will be at 12700 by tomorrow's close
[14:19] Shai : 2-30 to 2.45 last chance for OTF
[14:19] Shai : to come today
[14:23] Girish Desai : Almost 4 points done in copper – enough for the day for me! exiting at 383.6
[14:24] r m : Good trade Girish!
[14:24] Girish Desai : It is actually easier to hold a position in loss but more difficult to hold the one in profit
[14:24] r m : Looks like your exit is creating all that red delta in copper 🙂
[14:26] Girish Desai : lol
[14:29] Shai : still no sign of OTF
[14:29] Shai : looks like it will end up as a normal day after a long long time
[14:30] Girish Desai : shehtaan ka naam lya .. and OTF is here!
[14:31] r m : 🙂
[14:31] Shai : yes was waiting for me to finish typing
[14:31] r m : OTF uncle was just waiting for Shai's cue 🙂
[14:31] Shai : 597
[14:32] Girish Desai : VAH in BN also done
[14:32] Shai : book part
[14:33] Shai : long moving
[14:33] Dushyant : wtf
[14:33] Shai : longs moving out in part
[14:33] Dushyant : gav basa nahi ke lootere aa gaye…
[14:33] Dushyant : lol
[14:33] Girish Desai : 🙂
[14:34] Shai : 🙂
[14:34] Dushyant : 6 rs eaten by vols drop…
[14:34] Dushyant : 22.5% now 21.91%
[14:34] Dushyant : ivs
[14:34] Dushyant : vols+ivs
[14:34] Dushyant : *=
[14:35] Shai : that upper yellow is always an exit sign
[14:35] Shai : plus it was accompnaied by reducing green
[14:36] Dushyant : upper yellow?
[14:36] r m : vwap 3sd band
[14:36] Shai : most people would take 40 points in a day like today
[14:36] Dushyant : dotted vwap?
[14:36] Shai : yes
[14:36] Dushyant : oic
[14:37] Shai : 640 is still a tgt, sl IBH now for remaining
[14:38] Girish Desai : NF abv IBH
[14:41] Shai : Not confident abt NF going further up
[14:43] Shai : sl can be raised to vah in BNF
[14:44] Shai : 12640
[14:44] Pasi C : Great call Shai
[14:44] Dushyant : master
[14:45] Shai : See those longs from vwap are still holding
[14:45] Shai : vwap/ dpoc
[14:45] Girish Desai : Shai – Even I was able to travel from 12580. Thanks!!
[14:45] Shai : Now no new longs coming- so book out
[14:46] Girish Desai : OK. Should not stretch my luck beyond what Shai says – getting out @12630 ..
[14:46] r m : Thanks Shai!
[14:48] Shai : There's a black line at the top in BNF delta
[14:48] Shai : if that is crossed we will have new longs in the system
[14:49] Girish Desai : Interesting is that based on count from intraday or previous days too?
[14:49] Shai : intra day only
[14:49] Shai : I think it will make trading much easier for all of us
[14:49] Girish Desai : OK. got it
[14:50] Shai : remeber the earlier comment about no new shorts at VAL
[14:50] Girish Desai : yes. that was pretty clear from the charts
[14:51] Shai : and at vwap/ dpoc we saw lonmgs getting added
[14:51] Shai : so it was an easy trade to take
[14:51] Dushyant : shai …same nifty looking at del;ta …cant b shorted if white line crosses?
[14:52] Shai : Only if BNf stays down
[14:52] Shai : see the longs from vwap are still holding in BNF
[14:53] Dushyant : ohk
[14:54] Girish Desai : First Copper and now BNF – 2 positive trades. Now I should close my terminal and be happily done for the day 🙂
[14:54] r m : 🙂
[14:54] Girish Desai : RM – just trying to follow what the wise ppl say about casinos. Once you win – just walk away from the table 🙂
[14:56] Shai : Nf does not have buyers as it goees to range highs
[14:56] Shai : only BNf driving prices here
[14:57] r m : @Girish, right you are, why give to the bank 🙂
[14:58] Girish Desai : yes!
[14:59] Girish Desai : 5 points in copper from low of day now. And 5 points in copper is a pretty good move by any standards
[14:59] r m : yes
[15:01] Shai : 5918 spot
[15:01] Dushyant : yeah
[15:02] Shai : difficult to treat nifty as a breakout abv 5918 if delta remains like this
[15:04] Shai : volumes are down for the 2nd day of the series too
[15:04] Shai : Bears don't want to come to trade after the april mauling
[15:08] Shai : 12640- 12720 is a trade at the open tom as the BNF will look to complete a double distribution
[15:20] Shai : BNF came back too much
[15:20] Girish Desai : Shai – nice call to exit @12640 too. Bye all!
[15:20] r m : Bye Girish
[15:21] Shai : looks like another sideways day tom
[15:21] Girish Desai : RM – Trick Q. do you know of a way to convert copper to silver?
[15:22] r m : could electroplate the surface but that will be a ponzi silver 🙂
[15:22] Girish Desai : Ok my Answer: Make money in copper trade and Copper mein Chandi ho jayegi 🙂
[15:22] r m : good one 🙂
[15:22] Dushyant : 🙂
[15:22] Shai : 🙂
[15:23] Girish Desai : lol – bye!!
[15:23] Shai : bye Girish
[15:24] Dushyant : shai…nifty delta doesnt alarm?
[15:24] Shai : no not yet, as banks are holding it up
[15:25] Dushyant : ohk
[15:30] Shai : 12550/ 5915
[15:30] Dushyant : bye aall
[15:30] Shai : Bye guys
[15:30] r m : Thanks and bye all, have a great evening 🙂