General Chat Transcript
Room Name: Vtrender
Date and Time: May 10, 2013 09:02:58
[08:52] r m : Good Morning folks!
[08:53] r m : Results today – Apollo Tyres, Graphite India, Ashok Leyland, NTPC, Balrampur Chini, RCOM, Sobha Developer
[08:54] Pasi C : GM all
[08:55] r m : IIP Nos at 1100 Hrs, Expected 2.0%, Previous 0.6%
[08:55] Pasi C : Hi rm
[08:56] r m : Hi Pasi
[08:56] Pasi C : Your data sheet link plz.I couldnt see a direct link on vtrender rm
[08:57] Dushyant : Gm all
[09:00] r m : which data sheet Pasi, we have created almost a dozen of them 😀
[09:00] Pasi C : where u update delta& OI rm
[09:02] r m : http://tinyurl.com/cgd3p3j
[09:03] Pasi C : thx rm
[09:03] r m : welcome
[09:04] Shai : GM all
[09:04] Shai : Big move in currency markets
[09:04] Shai : dollar breaks abv yen 100
[09:04] r m : prelimniary FII data give an impression that FII wrote CE yesterday
[09:05] Shai : and usdinr at 54.75
[09:05] Pasi C : GM Shai
[09:07] Girish Desai : GM RM, Shai, Pasi
[09:07] r m : Hi Girish 🙂
[09:07] Pasi C : GM GD
[09:08] Girish Desai : Shai – I think dollar index is rising. So we may have INR depreciating
[09:08] Girish Desai : http://www.investing.com/quotes/us-dollar-index-advanced-chart
[09:15] Shai : yes
[09:17] Shai : Open in range and value
[09:19] Girish Desai : On Cobrapost day Sudarshan Sukani was negative on BN and it went up 400 pts. Now S P Tulsian is negative on BN http://www.moneycontrol.com/news/stocks-views/sp-tulsian-negativebank-nifty-may-touch-12300_868056.html
[09:25] Pasi C : NF moving up Despite the OI&Cumulative delta from past 10 sessions@Shai
[09:26] Girish Desai : RM – today IIP numbers coming up?
[09:26] r m : yes
[09:26] r m : 1100 hrs
[09:27] Shai : Pasi the delta needs to be seen with the BNF also in the same sheet
[09:28] Shai : 12590 getting sellers again
[09:28] Pasi C : yes ok
[09:29] Shai : @pasi I agree that price and delta are diverging in NF at athe moment
[09:29] Girish Desai : Thanks RM
[09:29] Shai : It would mean that new highs may not be easy
[09:30] Pasi C : ok
[09:32] Pasi C : VA levels box removed @Shai
[09:34] Shai : There is a bug there- will fix it this weekend
[09:34] Shai : Yesterday NF was inside
[09:34] Shai : the best trade today would be to see if we get a trend away from the range
[09:35] Shai : There were sellers yesterday in NF/ BNF but prices did not break down
[09:35] Dushyant : 6025/6090…
[09:35] Shai : I guess the trade would be to see if the sellers remain patient or not
[09:36] Shai : Yes 2 highs near the 6090 may level, but no new lows
[09:39] Girish Desai : Shai – can you reload NF data, that one big volume bar doesn't see right
[09:39] Girish Desai : *doesn't seem right
[09:41] Shai : Oh yes
[09:41] Girish Desai : The mother of all solutions – intevted by Microsoft. Press the rest button – always works! 🙂
[09:42] Shai : 🙂
[09:42] Shai : Not much delta activity in the morning
[09:42] Shai : OTF will come only on break of range
[09:43] r m : Billu (MS) has contributed a lot to making makind lazy 🙂
[09:44] Pasi C : 6048 6090 is the range ?@Shai
[09:45] Shai : yes
[09:45] Pasi C : ok
[09:45] r m : FII data updated at http://tinyurl.com/OIAnalysis
[09:46] Shai : yes terday we tries to break lower into the close , but are now back in balance
[09:46] Shai : *tried
[09:46] r m : longs added to index futures and index PE
[09:47] Pasi C : means they r long hedging with PE
[09:47] Shai : Thanks RM
[09:47] r m : welcome
[09:47] Shai : OI reduced a bit in options
[09:48] Shai : they scaled back a bit in option longs yesterday
[09:48] r m : yes
[09:48] Shai : Nothing major
[09:48] r m : yes, looks like they are yet to decide which way to go 🙂
[09:49] Shai : They generally show me a 2 week pattern
[09:49] Shai : they may decide today or mon on change if any
[09:49] r m : ok
[09:50] Shai : last big OI change in options was 25th april and prio to that 4th april
[09:51] Shai : 25th may have been expiry, but looks like a 2 week hold pattern
[09:53] Shai : yesterday they reduced in futures and today in options
[09:53] Shai : some accounts may be running to max capacity 🙂
[09:54] r m : they changed their stance on 16th April by going for CE longs in a huge way, 25th April changes are looking big due to expiry day
[09:55] r m : from this expiry we will get data on the lots they exercised or assigned too, NSE has made changes in FII stats
[09:56] r m : so we'll know who was creamed and how much from this expiry 😀
[10:02] Shai : That's cool
[10:03] Shai : On 25th april expiry they rolled longs but not shorts from april
[10:03] r m : yes
[10:04] Girish Desai : Shai – any chance today could be a trend day closing at highs – esp since not many expecting that to happen?
[10:04] Shai : Rm I was looking at the option book
[10:04] Shai : the futures seem to be another set of players
[10:04] r m : ok
[10:05] Shai : generally a drop in OI in options is not seen
[10:05] r m : actually in OI analysis, you will notice that from 16th April they began adding to CE longs and reducing PE longs
[10:05] Shai : yes
[10:05] Shai : that's very clear
[10:06] Shai : Possible Girish, has to stay above 6085 for that to happen
[10:06] Girish Desai : Ok. that's not too far from here
[10:06] r m : @Girish, maybe ES finished its correction yesterday!
[10:07] Shai : was it bigger than the last one of 7 points?
[10:07] Girish Desai : RM – I have noticed that the big rise in NF/BN happens on a day when ES corrected overnight
[10:08] Girish Desai : anyone knows when was last IIP day?
[10:08] Dushyant : its fixed date…always 12th of d month
[10:08] Dushyant : if holiday…den prev day
[10:08] r m : @Shai, yesterday high was 1632 and low was 1620
[10:09] Girish Desai : Thanks Dushyant
[10:10] r m : Thanks Dushyant, i always thought they decided the day by lottery 🙂
[10:12] Girish Desai : I was out more of yesterday afternoon. Did BN cross 12660 in afternoon yesterday?
[10:12] Dushyant : 🙂
[10:12] Shai : yes
[10:12] Shai : 12683 done yest
[10:12] Girish Desai : Thanks Shai. So it corrected after reaching there
[10:13] Shai : yes was a trap
[10:13] Shai : with a big algo too
[10:13] Dushyant : 12673…
[10:16] Girish Desai : OK. need to watch today if we get there
[10:51] Girish Desai : market has become quiet ahead of IIP
[10:59] Shai : Yes
[10:59] Dushyant : 2.5
[11:00] Pasi C : BN buy?
[11:03] Shai : BUy abv 12673 only
[11:04] Pasi C : good number
[11:05] Shai : yes better than 1.5 exp
[11:05] Girish Desai : PAsi – its not the news. its the reaction to news that matters
[11:05] Pasi C : charts r damn slow
[11:05] Shai : BNf has sold off on that bit
[11:06] Dushyant : charts r 5n
[11:06] Shai : fine today
[11:12] Pasi C : my messages r delayed .sorry
[11:13] Shai : Pasi clear the cookies and relogin- you should be fine
[11:15] Shai : even on that IIP numbers NF stays inside and in balance
[11:16] Shai : 6085- 6048 extremes have been hit, but no break
[11:16] Shai : sellers now post IIP
[11:18] Pasi C : sell bank nifty?
[11:18] Shai : sell below 12523, tgt 12470/ 12380
[11:19] Dushyant : stop?
[11:19] Shai : abv vah
[11:21] Pasi C : Bn sell tgt?
[11:22] Shai : 11:18 Shai : sell below 12523, tgt 12470/ 12380
[11:26] Shai : No selling yet below IBL
[11:26] Shai : keep an eye on the delta in the top pane
[11:27] Shai : NF is still inside
[11:27] Dushyant : 🙂
[11:27] Shai : 6075 and above is holding sellers again
[11:28] Shai : but still no eveidence of them selling below 6050 convincingly
[11:37] Dushyant : seems …will touch highs of d day.and den fall
[11:54] Pasi C : again green delta in BN
[11:58] Girish Desai : buyers started when net delta became zero in BN
[12:01] Pasi C : who will get fried away today
[12:03] Pasi C : lets see
[12:07] Girish Desai : Pasi – my bias is still on long side
[12:10] Pasi C : ok
[12:12] Pasi C : looking at the delta long is the trade with day low sl GD
[12:12] Girish Desai : I am actually looking for a 1:30 dip today
[12:20] Pasi C : my longs hit and short now GD
[12:21] Girish Desai : Pasi – i too had a small long @VWAP with 20 pt stop. Stop was hit very quickly. So just watching the market now
[12:21] Pasi C : ok
[12:22] Pasi C : Day is so young
[12:22] Girish Desai : 🙂
[12:22] Girish Desai : I am getting older but it doesn't cost anything to think that I am young 🙂
[12:22] Pasi C : 🙂
[12:24] r m : @Girish, normally you don't put SL in the system, so this vwap trade must have been very tentative?
[12:25] Girish Desai : RM – because I use zerodha modile interface, I have to put SL these days. I won't have a choice if my mobile hangs up or Airtel 3G stops working. So blessing in disguise today
[12:25] r m : ok 🙂
[12:26] r m : @Girish, even an ancient brokerage like ICICIDirect has got the cover order system (when profit booking and SL can be put together), God knows when Zerodha will enable it for clients – NEST trader has the facility for dealer though
[12:27] Girish Desai : May be for cost reasons, zerodha is using NSET
[12:27] Girish Desai : Actually I wish there was a voice command based trading interface.
[12:28] r m : yes, that would be splendid, only hitch could be you may sell nifty instead of banknifty if the first part is not spoken loudly 🙂
[12:30] Girish Desai : and on days when I am confused – I would go buy, buy oh no sell …. of F#@%
[12:30] r m : 😀
[12:30] r m : even more hilarious will be if you are laughing on some joke and the damned thing buys for you 🙂
[12:31] Girish Desai : 🙂
[12:31] r m : both nf and bnf sticking to dval
[12:34] r m : BN OF is oscillating between blue and pink!
[12:35] Girish Desai : yesterday's low was 12486 & previous day it was 12466
[12:35] r m : yes
[12:36] r m : mostly trading in the single prints of 7th and above
[12:37] Pasi C : BNF now planning too hit my shorts
[12:39] Pasi C : oh it took seriously
[12:40] Dushyant : stops triggered?
[12:40] Dushyant : in bnf?
[12:40] Pasi C : yes
[12:43] Dushyant : delta cmng off
[12:43] Pasi C : not much
[12:43] Pasi C : preparing to spurt
[12:44] Dushyant : dis bnf…is………….
[12:44] Pasi C : bnf is?
[12:45] Dushyant : 🙂
[12:45] Pasi C : :)?
[12:45] r m : @Pasi, he means @#$%
[12:46] Dushyant : 🙂
[12:46] Pasi C : 🙂
[12:46] Pasi C : BUy BN or abv 673?@Shai
[12:50] Shai : abv 673 only
[12:56] Sumit : cannot digest that INR going down and NF going up
[13:00] Girish Desai : massive buying in NF
[13:01] Pasi C : Masive buying?
[13:01] Pasi C : delta came to 0 in BN
[13:01] Pasi C : and red in NF
[13:01] Girish Desai : Pasi – I am taking abt volume bars that came from IBH
[13:02] Pasi C : charts stuck
[13:02] Girish Desai : Actually I am not surprised by the rise. just that I was expecting this after 1:30
[13:03] Shai : volume could be stops hitting on limit orders
[13:03] Pasi C : I doubt whether we close in red?
[13:03] Shai : delta does not show aggressive new buyers
[13:04] Shai : abv pdh that is
[13:04] Girish Desai : yes Shai. Seems like lot of them took shorts in NF before the report. they all covered in this 50-point squeeze
[13:10] Shai : eyes on pdh and IBH in Nifty
[13:12] Dushyant : wat a vix rise …
[13:12] Shai : tgt could be 6116 / 6143 if we stay abv 6077
[13:12] Shai : may fut
[13:12] Dushyant : .50 vlos…in 6200 6300 calls
[13:12] Pasi C : I think below 12640 my short is safe now
[13:15] Pasi C : 6143 pos today?@Shai
[13:15] Dushyant : 10 points premim
[13:16] Shai : if not today then gap up on monday
[13:16] Pasi C : ok
[13:16] Shai : It's a trade based on inside day break
[13:16] Shai : If it falls below vwap, we will see day low quickly
[13:16] Shai : hence stop is imp
[13:16] Pasi C : ok'
[13:27] Girish Desai : Sumit – this may be the spike before a fall in INR
[13:29] Shai : BNF is struggling above pdh
[13:39] Girish Desai : Market not giving any sip to buy – just keeps going up
[13:39] Girish Desai : *dip
[13:41] Girish Desai : Most of day's move may be done too. its already up 200 pts from low of the day
[13:47] Mandar : Shai, can the long be maintained with stoploss of 6075 or is it still 6048 closing basis?
[13:53] Mandar : trailing stoploss
[13:55] Shai : 6975 is good
[13:55] Shai : as below it we may get 6048 staright
[13:55] Shai : straight
[13:56] Mandar : ok. thanks
[13:56] Shai : *6075
[13:56] Mandar : ya
[13:57] Shai : more sellersa now than buyers
[14:00] Shai : tme wise the inside day break out has been accepted, but volume/ price still to confirm
[14:00] Shai : *time
[14:02] Girish Desai : I am still thinking close will be at highs of the day
[14:06] r m : @Girish, your trademark VWAP above IBH is also pointing to that
[14:08] Girish Desai : RM – that's the hope but patters are just patterns. the only thing that is real is the contract note at the end of the day.
[14:09] r m : lol
[14:09] Girish Desai : 🙂
[14:09] r m : price bujhaye pyaas … 🙂
[14:09] Girish Desai : lol
[14:41] Shai : quite friday afternoon
[14:42] Pasi C : yes
[14:42] r m : every PE/CE strike is being written to get weekend allowance 🙂
[14:42] Mandar : or silience before the strom 🙂
[14:43] r m : 6200CE OI has reached 8 million
[14:44] Girish Desai : RM – as an optimist I can think that there is interest in 6200 level
[14:44] r m : yes Girish
[14:44] r m : also imagine the stampede if 6200 is crossed 😀
[14:47] Girish Desai : I am long in BN from 660 and can take on more loss @12630 and be done for the day.
[14:48] r m : aha, that HL at 12658 was caused by you!
[14:48] Girish Desai : No man. still thinking I missed out on today's long trade inspite of being bullish right from the open today
[14:49] r m : yeah, I cut down the SL of my short from IBH to VWAP on knowing that your biaas was long in BN, saved a good packet 🙂
[14:49] Girish Desai : lol – penny saved in SL is penny gained
[14:50] r m : yes
[14:52] r m : @Girish, do post an article about your chart readings in general (not for any particular date or scrip) whenever you get some time
[14:54] Girish Desai : RM – well. I wish I have something that I can put down in words. May be its more pattern recognition.
[14:54] r m : ok, i can understand that
[14:55] r m : it is like that "Water" Baba during Nehru's time who could just walk on earth and tell "here you will find water" 🙂
[14:55] Girish Desai : lol
[14:56] r m : BNF is all set to give you at least 720
[14:56] Girish Desai : yes. I am exiting 50% here and making sure contract note is in good health
[14:56] r m : 🙂
[14:57] r m : dpoc rises to 6100
[14:59] r m : Hats off to the sellers in NF who worked so hard to keep NF delta red thru the day 🙂
[14:59] Dushyant : me der…in dat delta…
[15:00] r m : 🙂
[15:00] Dushyant : actually since 6000 levels
[15:01] Girish Desai : Done with everything at 730.
[15:02] r m : Congrats Girish, great trade!
[15:02] Girish Desai : Thanks RM. Lucky to get that dip @660 and it worke dout fine
[15:03] r m : that is the best things about some folks, they won't even take credit for their own foresight 😀
[15:04] Shai : 6116 done- (13:12) Shai :tgt could be 6116 / 6143 if we stay abv 6077
[15:04] r m : Shai's 6116 is here, Thanks Shai!
[15:05] Pasi C : carry longs?@Shai
[15:06] Shai : yes strict sl 6085 on monday
[15:06] Mandar : ok
[15:07] Pasi C : ok
[15:07] Sumit : tomorrow is also open
[15:07] Pasi C : tom?
[15:07] Shai : oh yes
[15:07] r m : there won't be much change tomorrow unless ES gets tripped
[15:07] Pasi C : saturday?
[15:08] r m : special session tomorrow
[15:08] Pasi C : Full day?
[15:09] Shai : We won't be having the room open tomorrow for the special session
[15:09] r m : just one and a half hour
[15:09] Pasi C : ok
[15:09] Shai : charts have to go to the garage for some fixing work
[15:09] Dushyant : 🙂
[15:09] Pasi C : 🙂
[15:09] Dushyant : tom…6085..stop
[15:10] Shai : No monday cash open
[15:10] Dushyant : ok
[15:10] Dushyant : 6085 spot?
[15:12] Shai : NSE will be redfaced if the mkt moves a lot tom
[15:12] Shai : most fund houses do not particpate in these sessions
[15:12] r m : If ES goes for a spin then Fund managers will be forced to wake up tomorrow 🙂
[15:13] r m : otherwise we should have a 15 point range!
[15:13] Shai : yes
[15:18] Girish Desai : Can bulls finish with last 15-minutes ramp?
[15:18] Pasi C : can this rally tgt 6160?@Shai
[15:20] Shai : possible Pasi
[15:21] Pasi C : ok
[15:21] r m : @Pasi, market timing tomorrow 1100-1245
[15:25] Girish Desai : There was a lot of volumes traded at/above 12700 today
[15:29] Shai : even in NF now
[15:29] Shai : weekend adjustments
[15:30] Shai : after failing yesterday both the NF and BNF closing at highs after the dip buy
[15:30] Shai : dip buy of the afternoon
[15:30] Dushyant : bye all
[15:31] Shai : Bye all
[15:31] r m : Thanks and bye folks! have a great weekend 🙂
[15:31] Shai : Happy weekend
[15:31] Pasi C : bye all
[15:31] Dushyant : hppy weekend
[15:31] Pasi C : HAppy weekend
[15:31] Mandar : bye all and happy weekend