Trading NR7 setup

[krishan prakash saxena]

Thanks Mr. Vijay. My data for BPCL are as follows:
Date High Low Difference
23-10-2009 533.1 516 17.1
26-10-2009 529 514 15
27-10-2009 522 501.2 20.8
28-10-2009 517 492.25 24.75
29-10-2009 516 481.8 34.2
30-10-2009 514.9 497.35 17.55
03-11-2009 521.9 500.65 21.25
04-11-2009 507.5 500 7.5 NR - 7 triggered
05-11-2009 509 497.5 11.5

 

[krishan prakash saxena]

Date High Low Difference
23-10-2009 533.1 516 17.1
26-10-2009 529 514 15
27-10-2009 522 501.2 20.8
28-10-2009 517 492.25 24.75
29-10-2009 516 481.8 34.2
30-10-2009 514.9 497.35 17.55
03-11-2009 521.9 500.65 21.25
04-11-2009 507.5 500 7.5 NR - 7 triggered
05-11-2009 509 497.5 11.5

 

[VJAY]

Thanks Mr. Vijay. My data for BPCL are as follows:
Date High Low Difference
23-10-2009 533.1 516 17.1
26-10-2009 529 514 15
27-10-2009 522 501.2 20.8
28-10-2009 517 492.25 24.75
29-10-2009 516 481.8 34.2
30-10-2009 514.9 497.35 17.55
03-11-2009 521.9 500.65 21.25
04-11-2009 507.5 500 7.5 NR - 7 triggered
05-11-2009 509 497.5 11.5

Dear krishan,

Read posts of following link you can understand it

http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup-39.html#post374479

 

[krishan prakash saxena]

Dear Mr. Vijay,
Thanks. Really I have to learn many things.
Best wishes.

 

[AW10]

With 71 points range on Nifty today, we just got NR7 day today.
Watch out for action in coming days. Nifty has been showing wide range movements (almost 70 to 80% of its 10 day average range). And historically, whenever we had seen such large move days, next 5/10/20 days have given abnormal moves.

There is no clear trend in direction cause such high range days just indicates volatility and changing of positions by biggies. It is like when elephants take turn, they need much wider area ..

If we are going below the recent low then we easily might be looking for 4200 range. Though bit too much to expect in november after already 600 points of fall but everything is possible in the market.

Happy Trading

 

[mfadhd]

Dear AW10,

As there was NR7 formation today wat does it indicate a upside after a 600pts downfall or wat can u explain it also put OI says too much buying or sellin and changin position towards call position building or wat

Sir hope to hear from u soon
regards

 

[AW10]

As I mentioned earlier, NR7 doesn't give us any clue about the future direction of market.
It indicates that there is pause in the market, and consolidation is taking place.
That is advance signal for eventual breakout from this narrow consolidation range and we shd be ready with our plan to trade it. Plz chk out some initial posts in the thread for more on it. Market can go on either direction.. but let market tell us tomorrow the direction in which it wants to go. We can only be prepared with our action plan and respond to markets movement.

Regarding, Open interet, plz refer to this thread where lot of discussion is taking place and I have posted my views in detail there..

http://www.traderji.com/options/34089-tracking-put-call-open-interest-4.html

Happy Trading

 

[rohangawale]

Thanks Vijay for posting NR7 triggers in absense of me.
Im back so i will be posting it on regular basis.

 

[rohangawale]

NR7 Stocks Triggered on 6th Nov:

[B]STOCK		HIGH		LOW[/B]
NIFTY		4836.2		4764.85
ACC		730.00		712.50
AXIS BANK	948.7		921
DLF		390.8		375.65
HCL TECH	313		303.55
HDFC BANK	1653.5		1622
HDFC LTD	2721		2655.55
HINDALCO	128.95		124.15
ICICI BANK	862.7		840.5
ITC		254.75		247
M & M		989		963.1
ONGC		1168		1142
POWERGRID	108.35		106.2
RIL		1974.9		1930
R COM		183.35		176.65
R POWER		147.9		142.85
SIEMENS		534.5		521.55
STERLITE	816		792
UNITECH 	88.4		85.5
WIPRO		612		595.15

 

[cbosein]

Dear MFADHD,
I am using metastock to scan the stocks on eod basis.
In explorer just write the below formula and scan the stocks and you will get all the stocks which are NR7 for that day

r:=H-L;

r<Ref(LLV(r,6),-1)

This is the formula to scan NR7 stocks used by me.

Hi Rohangawale,

Thanks for your info. To-day I was going thro full thread. I am more familiar with Excel sheet. Is there any excel sheet posted for screening NR7 /NR4 /IB stocks? Kindly let me know?

Or How to get from Explorer. I am totally new to this? Guide with step by step procesdure to get NR7 from Explorer.

I don't have any software & not in a position to buy now.

Thanks & regards,
Keerthi