Trading NR7 setup

[VJAY]

Thanks Mr.Vijay.
Today there were so many downs and slight ups, Nr-7 stocks availabilty is doubtful. Is there any such stock?

Dear KPS,
Yes as per my list of scrips for nr7(Am using selected scrips only)today nor NR7 scrips

 

[rkkarnani]

KPS, Your view seems to be correct!! I did not find any stock in NR7 range yesterday in Nifty stocks!! There are a number of stocks in other cash stocks though!!!

 

[krishan prakash saxena]

Thanks Mr. RKK and Mr. vijay,
I shall try as suggested to find NR- 7 stocks in coming week.

 

[AW10]

AW, I noticed while Exploring for the stocks that have made BR7 on a day, that a few also make a NR7 or higher on a Weekly Time frame. What significance can we draw from this?

RKK, stock showing NR7 or NR4 on weekly TF just reinforces that longer TF is also ready to breakout. Each TF has its own players, and certainly weekly TF players are biggies. So if Weekly is showing NR4 or NR7.. and then we also get NR7 on daily.. our entry beyond daily NR7 range will give us an edge. and then as weekly range also breakout - that is time for scale-in into the position and continue trailing stops.

You can also extend the same concept to daily NR7 day also showing hourly NR7 for swing trades.

I am happy to see NR4 on weekly, NR7 on that TF is too rare to find.

Hope this helps.
Happy Trading

 

[krishan prakash saxena]

Dear Mr. Rkkarnani,
I tried to find NR - 7 stocks. These are as follows:
1. ABB 749.4 737
2. ACC 812.8 801
3. BHARTI 306.9 300.6
4. GRASIM 2416.8 2374.45
5. HCL TECH. 344.9 337.2
6. HERO HONDA 1752 1722
7. ITC 259.9 255.55
8. JP ASSOC. 230.8 226.65
9. SIEMENS 539.5 528.2
10. WIPRO 640.7 631.25
I used EXCEL to find out. It takes a lot of time. Is there any simpler method? I also request Sri AW10 and other members to guide me

 

[rkkarnani]

Dear Mr. Rkkarnani,
I tried to find NR - 7 stocks. These are as follows:
1. ABB 749.4 737
2. ACC 812.8 801
3. BHARTI 306.9 300.6
4. GRASIM 2416.8 2374.45
5. HCL TECH. 344.9 337.2
6. HERO HONDA 1752 1722
7. ITC 259.9 255.55
8. JP ASSOC. 230.8 226.65
9. SIEMENS 539.5 528.2
10. WIPRO 640.7 631.25
I used EXCEL to find out. It takes a lot of time. Is there any simpler method? I also request Sri AW10 and other members to guide me

List generated by me!!! Its Identical!!! Great job KPS!!:clap:
ABB
ACC LTD
BHARTI AIRTEL
GRASIM INDS
HCL TECHNOLOGIES
HERO HONDA
ITC LTD
JAIPRAKASH ASSOC
SIEMENS LTD
WIPRO LTD

Sorry to say but I do not know any other easier route! I have subsribed to a data vendor hence a bit easier for me.
There are a few Yahoo groups who provide daily EOD data Free, you may join one such group and it may become some what easier for you!!!
All the very best!!!

 

[AW10]

KPS. Plz don't use words like Sri for me. I am not used to that.. (hope it was typo for Sir). Best is to just call me AW or AW10.

Your issue has given me idea to get excel file designed to flash NR7 against selected stocks. I have idea how to do it. We can programmatically get the last 10 /12 days data from yahoo for each stock.. and scan thru that and flag NR7.

Would appreciate if any excel developer can PM me and volunteer to right small macro for this.

Till that time, plz live with the pain (or depend on Rohan/RKK/ Vijay etc to share the output from their scan).

Happy Trading

 

[AW10]

Again NR7 day for mkt today. NIFTY spot was in the range of 50 points comapared to usual average range of 100 points now. i.e. 50% contraction. Something which rarely happens. Also a doji with body of 4 points.

This is occuring just at the resistence zone from where mkt fell last time. Mkt made3 continous NR days of 60 points range on 23 /24th and 25th Nov. Seems like a wait and watch zone for smart money. They are not ready to take any action here. Last time, we had seen the supply coming here that took mkt down to 4800 level. We bounced back to same level but there is divergence in Cummulative Trading Volume now.

So be careful in jumping on the breakout, specially on the bullish breakout cause, mkt has already travelled 350 points from 4800 level without significant retracement. Odds are high that you might get trapped in false breakout. Like today, the new high of 5160 is immediately sold off and mkt could not cross the resistence zone of 5140 convincingly despite of trend day of yesterday, there was no followup buying today. To me it indicates that there is still supply waiting above the zone of 5150.
Buying retracement will be better idea then jumping on breakout here.

Watch out for the forthcoming action / expansion.

Happy Trading

 

[krishan prakash saxena]

AW10,
GOOD ADVICE.
Today NR-7 srocks:
Axis bank,HDFC bank,Jindal Steel andTCS.

 

[krishan prakash saxena]

NR-7 stocks:as per my calculation
bhartiartl,bhel,cairn,hdfcbank,jindalstel,L & T,M&M,NTPC,Power grid,TCS and unitech