Trading NR7 setup

[rohangawale]

Today we saw nearly 147 points range on nifty,
so its difficult to get so many NR7 stocks which we were getting from past 3 trading sessions.
i think the list will be shrinked compared to that of prev NR7 list of earlier days.
lets see how many stocks we get of nr7 today.

I was wrong, still we had a good long list of NR7 stocks today.

 

[rohangawale]

NR7 Stocks Triggered on 11 Nov:

[B]STOCK		HIGH		LOW[/B]
AMBUJA CEMENT	85.40		84.50
AXIS BANK	1010		985
BHEL		2258.35		2202.35
CIPLA		308.45		301.55
HERO HONDA	1518.8		1477
ITC		259.4		255.05
[B]SAIL		179.5		175.05*
SBI		2384.5		2330*
TATA POWER	1338		1315**[/B]

*=2NR7
**=3NR7

NR7 Stock Close on 12 Nov:

		[B]11-Nov			12-Nov	
STOCK		HIGH	LOW		Close	Trigger[/B]
AMBUJA CEMENT	85.40	84.50		85.35	No Breakout
AXIS BANK	1010	985		980.10	Down Break
BHEL		2258.35	2202.35		2267.05	Up Break
CIPLA		308.45	301.55		304.60	No Breakout
HERO HONDA	1518.8	1477		1520.90	Up Break
ITC		259.4	255.05		252.95	Down Break
SAIL		179.5	175.05		176.25	No Breakout
SBI		2384.5	2330		2293.65	Down Break
TATA POWER	1338	1315		1326.50	No Breakout

 

[AW10]

From 14th Oct to 26th Oct we were seeing nifty below 100 points range,
and now from 30th Oct till today we saw nifty moving above 100 points except 2 days.

May be rangebound days on nifty are over and now we are seeing all widespread days on either side.

What does this exactly tells us?? how to read this thing??

Rohan, in my view, it just means that days of low volatility are over and volatility is back again. We had VIX at 20 range.. which has also gone up to 28/29 now. Market starts swinging more i.e 100+ points range..
So for a day-trader, it is bigger opportunity to make money intraday. For swing and positional traders, it is resulting in wider stoplosses. And for options trader - higher premium.

Certainly volatility presents more opportunities.. and makes trading interesting. Else u can't make money in sleeping market of 70/80 pts range.

Happy Trading

 

[rohangawale]

NR7 Stocks Triggered on 12th Nov:

[B]STOCK		HIGH		LOW[/B]
HERO HONDA	1,535.25	1,502.40
L&T		1659		1622.2
ONGC		1161.9		1142.6
PNB		930		906
REL CAP		835.1		800.4
RELINFRA	1023.6		963.2

 

[krishan prakash saxena]

I hope there must be NR7 Stocks Triggered on 13th Nov

 

[rkkarnani]

I hope there must be NR7 Stocks Triggered on 13th Nov

Hi KPS, Please post the same!!! Thanks.
-R K Karnani

 

[krishan prakash saxena]

I am not much. But as per my little calculation, BHEL,Tata Power, Reliance Capital are some of the NR7 Stocks Triggered on 13th Nov

 

[VJAY]

Hi KPS, Please post the same!!! Thanks.
-R K Karnani

here it is.....thanks for anant for a nice afl......

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[AW10]

here it is.....thanks for anant for a nice afl......

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Thanks Vijay, for posting the NR7 list as of 13th Nov. That would have spoilt people by choice of stocks to day trade.

Unfortunately, most of them might have remained range bound today and hence hit stoplosses.

Nifty is in contraction zone for last 3 days (range of 75 to 90 points) against the 10day average range of 120 points. i.e. the trading is range 655 to 75% of normal behaviour. More over, it has been in contraction for extended period of 3 days.. Main signal - participant mood undecided on direction hence lack of volume.When the breakout from here gives us good chance for nice expansion, at the same time, it may result in volatility and false breakout.
That is mainly because, people would have built position during congestion and their swing trade stops are still intact. So when the expansion finally sets in then there might be good action between players who want to protect their stops and the same time, others who are trying to join breakout.

As mentioned in my first few post to trade such scenairo thru option, I am ready with Long OTM Strangles at 5100 call and 5000 put. Will Add-on to winning position and cut loss on other after breakout has occured and 4950-5050 band holds the retest.

Hope this helps.
Happy Trading

 

[NOMINDTR]

AW10,

Glad to go see your thread. Congrats for initiative. I am yet to finish this great thread. I remember somewhere we had a discussion about NR7 on stocks. (Guess you had replied as you have not tested)

Just want to register here that it works well for me when used with appropriate additions (Sorry if the issue has been already discussed). Say support/Resistance.

NR7 must work well on stocks and for day trades too, when applied with good understanding.

Come back after finishing the whole thread.

Happy Trading