Trading NR7 setup

[anshuman.k]

Hi Biswajit,
Could you please let me know if SBI futures is also under NR7.? If so, then its a great opportunity. Bcoz SBI is one of the rare stock which gave 100% positive result in nr7 trade

SBI actually broke down from the nr7 low. I wonder what that means for nifty though which seems to be negotiating a resistance.

 

[angira]

gm all,

today watch on...

INFY :- pH-2380, pL-2353.65 ( NR7 - IB)
DLF :- pH-216.9, pL-212.2 ( conse. 2nd time NR7 )
Tatamotor :- pH-298.6, pL-290.6 ( NR7 )
ICICIBank :- pH-1238.4, pL-1219.9 ( NR7 )
Sunpharma :- pH-1023, pL-988.15 ( NR4 -IB )
Hindalco :- pH-110.9, pL-108.5 (NR4 - IB )

Happy trading,
angira...

 

[anshuman.k]

I am new to nr7 trading. hw do we manage on a day like today when some stocks have broken upside and some downside?

 

[Biswajit Das]

I am new to nr7 trading. hw do we manage on a day like today when some stocks have broken upside and some downside?

Try to use other parameters. I am using 10EMA and 25EMA. When NR7 stock is above 10 EMA it likely goes up and vice versa and when prices violate 25 EMA I exit from the counter. Today INFY crossed below 25 EMA after given NR7 breakout. Other example is BPCL, it has already given nr7 up breakout and still trading above 10EMA and 25EMA. When breaks 25EMA, I exit from the counter with losses.(keep in mind,any kind of strategy does not work properly always)Happy trading.

 

[Biswajit Das]

Try to use other parameters. I am using 10EMA and 25EMA. When NR7 stock is above 10 EMA it likely goes up and vice versa and when prices violate 25 EMA I exit from the counter. Today INFY crossed below 25 EMA after given NR7 breakout. Other example is BPCL, it has already given nr7 up breakout and still trading above 10EMA and 25EMA. When breaks 25EMA, I exit from the counter with losses.(keep in mind,any kind of strategy does not work properly always)Happy trading.

use 5 min chart for above indicators.

 

[anshuman.k]

use 5 min chart for above indicators.

also i wonder if expiry is having an effect. I setup the charts using the parameters mentioned by you. DLF and ICICI bank look valid downside breaks on that.

 

[Biswajit Das]

anshuman.k,
how dlf and icicibank is going on ?

 

[Biswajit Das]

anshuman.k,
how dlf and icicibank is going on ? :thumb:

 

[anshuman.k]

anshuman.k,
how dlf and icicibank is going on ? :thumb:

Gr8. Thanks a lot biswajit for the advice. made money in both!!

 

[Cubt]

I am new to nr7 trading. hw do we manage on a day like today when some stocks have broken upside and some downside?

As Biswajit explained, you could use additional indicators to filter the false breakouts.

Another method that i follow is, when a stock gives break down crossing NR7 LOW, DO NOT enter into the trade. Wait and watch the stock, mostly it would bounce back. Check if the stock is able to bounce back and trade above NR7 low. If the stock is not able to sustain and goes below NR7 low again, then SHORT it.

Viceversa for long trade...

Most of the time i split my capital and trade into 3 to 5 stocks. Even if At least one of the stock gives a breakout and fires, you will end up in Profit.