Trading NR7 setup

[nk_5]

I had Lupin, SBI and M&M along with HDFC, IGL and Axis as NR7's today.
The first three did reasonably well today whereas trades weren't initiated in the rest.

NK

 

[Cubt]

But Yes bank also crossed yesterday's high

Yes right, but since bank nifty was not moving higher, I have ignored the buy signal and was waiting for short

 

[angira]

gm all,

today NR4 in...

LT :- pH - 1642.6, pL - 1612.5
Mcdowell-N :- pH - 2433.65, pL - 2376.5

angira...

 

[Biswajit Das]

I am requesting to all members, please post ur nr7 stocks before market hour. Today's my nr7 stock is Tech Mah. Any other stock for today?

 

[Cubt]

Axis Bank, Hero Motor, TechM, TCS

These came into NR7 as i did not consider last Saturdays trading data

 

[nk_5]

bought one lot of tcs at 1483 and got trailed out at 1489...

 

[Biswajit Das]

Thank to NR7 setup, Tech Mah has gone down !!!!!!!!!!!! :clap::clap::clapping::clapping:

 

[Cubt]

Am stuck in TCS & Axis Bank.

Axis shorted @ 1522 after it went below NR7 low.

TCS - gap up open, so went long long with market price @ 1489.

Lets see... how the trade goes.

 

[Cubt]

Thank to NR7 setup, Tech Mah has gone down !!!!!!!!!!!! :clap::clap::clapping::clapping:

Bang on!!! that was a huge fall for Tech M.. That's good trade!

:thumb::thumb::thumb::thumb:

 

[Cubt]

Axis Bank was in horrible range today. It was like a ECG report.

Highly volatile, had i been followed the NR7 setup alone, i would have minimized my loss. mixed up Support/Resistance with NR7 for placing Stop Loss. Big loss in Axis Bank, nominal gains in TCS.


Positional Trade USDINR is trading +vely.

Lesson from Today's trade:
Unless and until the trade moves in your direction, dont mix up S/R with NR7 for placing Stop Loss.