Gai Waterhouse has a great chance of claiming her first Blue Diamond after talented filly Nayeli raced to an impressive win in the Group Three Chairman's Stakes at Caulfield.

The Blue Diamond is the only current Australian Group One for two-year-olds which Waterhouse has never won and Nayeli put herself into contention with her convincing win on Saturday to remain unbeaten from two starts.

The strength of the win has Nayeli third favourite for the Blue Diamond at $7 behind boom youngsters Rubick ($3.20) and Earthquake ($4.80).

Waterhouse watched the race from Sydney and said Nayeli would head into the $1 million Blue Diamond (1200m) on February 22 at her next start.

"She deserves to be one of the favourites for the Blue Diamond and the fillies get two kilos from the colts," Waterhouse said.

"It was her first look at Caulfield and she wobbled a bit around the turn but once she balanced up she attacked the line."

Jockey Vlad Duric was adamant Nayeli has what it takes to be a Blue Diamond contender.

"She ticks every box. She's pretty good," Duric said.

"When she went to the front she really went away from them. She's really in the Blue Diamond mix for sure."

Nayeli ($3 fav), owned by Greg and Donna Kolivos who enjoyed remarkable success with multiple Group One winner Pierro, sat on the speed outside leader Bugatty ($5.50) in Saturday's 1100m contest before starting to apply the pressure turning for home.

She fought off Bugatty by the 200m mark and went away to defeat him by 2-1/4-lengths with the same margin to Cautious ($31) third.

Diamond favourites Rubick and Earthquake will step out in their respective Blue Diamond Prelude divisions next Saturday.

"Obviously I haven't ridden them but I can only go on what I'm feeling and I love a horse that puts itself out of trouble and does everything right, which she did," Duric said of Nayeli.

"If she comes through this race well and even improves a bit, she will take some beating I think."