General Chat Transcript
Room Name: Vtrender
Date and Time: July 22, 2014 09:20:44
[08:56] r m : Good Morning folks!
[09:00] Shai : GM all
[09:00] Shai : http://vtrender.com/levels-and-plan-for-22nd-july/
[09:02] Shai : The buy volume in blue and sell volume in red have been added to the charts. the green within these bars will show where the largest volume occured horizontally
[09:04] r m : Results today – Axis Bank, Asian Paints, Kansai Nerolac, Dish TV\
[09:05] r m : Results tomorrow – McLeod Russel, Cairn, NIIT, Yes bank
[09:08] Shai : thanks rm
[09:08] Shai : idea was also today?
[09:09] r m : Idea was supposed to be yesterday
[09:10] Amit J : idea yesterday
[09:10] Amit J : good nos
[09:11] r m : ok, thanks
[09:11] Shai : ok thanks
[09:12] r m : going by pre-market the open should be above 7700 and 15450
[09:15] Shai : yes same as yesterday
[09:15] Shai : eyes at 1547- 15510
[09:15] Shai : 15470
[09:18] Shai : sellers at open in NF and BNF: 7720 and 15510 ref lines for new longs
[09:28] Shai : settling into an open auction
[09:31] Shai : 7704 vah from yesterday
[09:32] Shai : also had late afternoon buyers but reversed sharply lower in last 35 mins
[09:33] Shai : if you see the BNF chart now abd see the red profile you will note 15470 shoing heavy sell volume horixontally
[09:34] Shai : somewhere down at 15410 the blue profile has large horizontal green
[09:35] Shai : as the day progresses one gets a clear idea which level holds what kind of volumes
[10:14] Shai : BNF locked in the 15470- 15370 range
[10:14] Shai : Axis results can tilt BNF substantially
[10:15] r m : 7720 broken
[10:16] Shai : these days these guys wait for IB to get over
[10:17] r m : vwap bands expanding, so break is on good volumes
[10:17] Shai : risky to chase
[10:17] Shai : let’s wait for a test
[10:18] Shai : of 7720
[10:18] r m : yes
[10:18] Shai : can fly out to 7766 too
[10:18] Shai : yes vwap bands expanding
[10:19] Shai : prefer it to come down to 7720 and then head higher
[10:19] r m : that algo at 15482 appears a seller
[10:21] Shai : yes
[10:21] Shai : red in vertical and green horizontal
[10:21] r m : yes
[10:23] Shai : I’ll try to put another color there- that green is a contrast to the flow
[10:24] r m : can it be put on the right side of the chart, just the bars, will be easier to read with the scale?
[10:25] Shai : I tried that – it hides the lettering
[10:25] r m : on second thoughts that will make it a hotchpotch
[10:25] r m : yeah
[10:37] Shai : 7733 accepting the break
[10:37] Shai : sl moves to 7715 now for all new longs
[10:43] Shai : smaller double ditribution at play
[10:43] Shai : tgt is 7765 with sl below 7715- 7704 is better as it is vah
[10:43] r m : BNF managing to keep above VAL inspite of Algo, is that good for longs?
[10:44] Shai : but then risk rewward becomes 50:50
[10:44] Shai : good if we stay abv IBH and 15510 from pre plan only
[10:44] r m : ok
[10:44] Shai : we take abv 15510 with IBH as sl
[10:45] r m : right
[11:00] Shai : difficult auction here – sellers showing up above 7743 but price marching up
[11:01] r m : 7754 was the high on 10th Jan which got sold off
[11:03] Shai : yes
[11:04] Shai : budget day
[11:04] r m : yes
[11:22] Shai : tighten up long stops
[11:23] Shai : vwap visit coming
[11:23] Shai : buyers have to come back at vwap for a move higher other wise sellers take over
[12:05] Shai : 7743 is the avg price of this seller
[12:17] Shai : 7731 is vwap
[12:17] Shai : if 7720-31 does not break by close today then all these sellers will liquidate quickly causing a sharp upmove by close
[12:20] Shai : 7736/ 37 seeing 2 bottoms
[12:21] Shai : blue in the extreme right could be some of these aggressive shorts wanting to cover
[12:22] Shai : if you see the blue chart of the NF in the left the responsive buy volume between 7739- 7749 is as good as the selling taking palce
[12:22] Shai : *place
[12:23] Shai : it points to responsive limit buy orders now starting to absorb the agrresive selling of prices
[12:30] Shai : cat n mouse auction- cahsing each other in Nifty
[12:30] Shai : Meanwhile BNF is quiet and waiting out the Axis results
[12:31] Shai : still inside of yesterday
[12:36] Shai : now if we stay abv 7743 in NF, the seller will be forced to liquidate
[12:37] Shai : aggressive longs can be taken with sl below 7735 for 7766, cmp 7748
[12:51] Shai : dpoc shifts to 7743
[13:20] r m : NF advancing very reluctantly
[13:31] Shai : they are buying below 7740
[13:31] r m : ok
[13:31] Shai : furious to and fro in a 10 point range!!
[13:31] r m : lol
[13:32] r m : must be frustrating shorts terribly!
[13:32] Shai : what these bulls are hoping for is that 7700 ce OI will collapse
[13:32] r m : ok
[13:34] Shai : 7700 ce – 1 month change chart- http://prntscr.com/4544c1
[13:35] Shai : they will not close till we cross above 88-90
[13:35] Shai : and that si today
[13:35] Shai : technically they are comfirtable with spot below 7785 this expiry
[13:36] r m : ok
[13:38] r m : 10th High has been achieved, above that it should shoot up
[13:38] r m : BN can be shorted below IBL?
[13:39] Shai : short below 330 with 370 sl
[13:39] r m : Thanks
[13:39] Shai : was that axis news?
[13:39] Shai : 7700 ce chart- https://www.dropbox.com/s/7m08k1dyj0qviuq/7700%20ce%20OI.png
[13:45] r m : vwap got some buying interest
[13:45] Shai : yes
[13:50] Shai : vwap gone
[13:51] r m : BNF below PDL
[13:57] Shai : 7714 supp now
[13:57] Shai : below that yesterday lows
[13:58] r m : bnf touched 330 once
[14:13] Shai : was way below 3sd
[14:13] r m : yes
[14:13] Shai : if it gets back into IB we can trade for vwap
[14:13] Shai : sl of pdl
[14:14] r m : ok
[14:22] Shai : 7736 supported thrice in the morning
[14:22] Shai : now resisting
[14:36] Shai : ibl in BNF
[14:37] r m : stop 15365?
[14:37] Shai : yes
[14:37] r m : Thanks
[14:45] Shai : now into 80% also above val and IBH
[14:46] Shai : BNF
[14:46] r m : stop below vwap
[14:46] Shai : yes
[14:46] r m : Thanks
[14:50] Shai : 7700 ce liquidating now but stikll net positive for the day
[14:51] Shai : 7700 pe is huge writing
[14:51] Shai : we will know in eve if it is FII’s 🙂
[14:51] r m : 🙂
[14:52] r m : yesterday’s close was deliberately kept below 7700 so that folks are not encouraged to take overnight longs!
[14:53] Shai : yes that break from 7804 was weird
[14:54] Shai : and this morning we never traded below 7704
[14:54] Shai : 7704 actually**
[14:54] r m : yes
[14:55] Shai : mixed auction today
[14:55] Shai : likely to be a 7766- 7680 market this week
[14:56] r m : ok
[14:56] r m : they will make a perfect D before Friday 🙂
[14:57] Shai : algo
[14:59] Shai : BNF kept below VAL all day
[15:00] r m : yes
[15:08] r m : looks like they want to trade that 7th 8th July range by tomorrow open in NF!
[15:09] Shai : yes that will come if we cross 7775 F
[15:10] r m : ok
[15:10] Shai : 7815/ 7831 with sl below 7760 on short covering
[15:11] Shai : prem pumped up currently
[15:11] r m : we may be presented with a fait accompli with gap up open above 7800 :
[15:11] r m : 🙂
[15:11] Shai : can give a chance for shorts to eneter too
[15:12] r m : yeah
[15:23] Shai : buyers at the close in BNF
[15:23] Shai : may rise tom abv 15470
[15:23] Shai : 15000 ce good purchase
[15:24] Shai : 15500 ce
[15:25] Shai : NF orderflow today: https://www.dropbox.com/s/v07iuc61bcadt58/OF_10min.png
[15:25] r m : ok
[15:25] Shai : that seller we saw in the morning is gone from 7745 and some profit booking in NF here
[15:25] Shai : BNF looks a better long at today’s closing
[15:27] Shai : Those dropbox links can be saved as they will be auto updated with current day charts
[15:28] Shai : also in the paln post
[15:28] r m : ok, thanks
[15:30] Shai : Bye all
[15:30] Shai : Have a nice eve
[15:30] r m : Thanks and bye, have a great evening 🙂