Trading NR7 setup

[mohhnow]

A supplementation Nifty Graph for Rohans Nifty post #1152

Nifty Daily

Nifty Future 10days 60min bars

thumbnails

 

[rkkarnani]

Great effort Mohhnow!!! Is it possible to mark the NRx bar also!!! No idea about iCharts. I am trying to upload an image from Metastock. Let us see how it comes out!!

 

[rkkarnani]

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The candle after a Green Horizontal line ar IDNRx bars!! The nimnber below the bar indicates the NRx number!!

 

[mohhnow]

Hi RK
very nice, sir, a senior's experience always shows in its effect!
Plz also try to mark wsX bars. May give us an idea of wsX / nrX sequencing & their impact.


programmed marking may not be there, i think, in iChart.
and i do not have AB or MS.
i mainly monitor with excel formula only.

 

[mohhnow]

hi aw10, RK
can you suggest if there is any impact of open / close span of nrX days, if the candle body is very short inside the nrX ?
Do you see any pattern or correclation in that ?
Do they make extra compression ?
Like, can a thin candle body in an nrX day have an extra impact on decompression ?
[like the Full-bodied WS makes a good pivot]
Thanks, sirs.

 

[rohangawale]

Great effort Mohhnow!!! Is it possible to mark the NRx bar also!!! No idea about iCharts. I am trying to upload an image from Metastock. Let us see how it comes out!!

RKKARNANI,
if u want i can post all charts from metastock for nr7 stocks.
as im scanning them on daily basis i can post it if you or anybody needs it.

 

[rohangawale]

NR7 Stocks Triggered on 8th Jan:

[B]STOCK		HIGH		LOW[/B]
AMBUJA CEM	106.65		105
BPCL		635.95		619.00
ITC		258.5		255.35
NTPC		233.6		229.2
SBI		2303.9		2280.1

NR7 Stock Close on 11th Jan:

		[B]8-Jan			11-Jan	
STOCK		HIGH	LOW		Close	Trigger[/B]
AMBUJA CEM	106.65	105		106.1	No Breakout
BPCL		635.95	619.00		627.9	No Breakout
ITC		258.5	255.35		256.60	No Breakout
NTPC		233.6	229.2		232.95	No Breakout
SBI		2303.9	2280.1		2267.2	Down Break

 

[AW10]

hi aw10, RK
can you suggest if there is any impact of open / close span of nrX days, if the candle body is very short inside the nrX ?
Do you see any pattern or correclation in that ?
Do they make extra compression ?
Like, can a thin candle body in an nrX day have an extra impact on decompression ?
[like the Full-bodied WS makes a good pivot]
Thanks, sirs.

Thanks for sharing many charts Moh.

I have not analysed the impact of The size ob NRx Body so far.
Personally I don't think that makes much difference cause on NR day, real action is missing. hence market is at the mercy of stronger short term players/swing traders.
And it is not that difficult to manipulate such low volume market.

I agree with Long Body WS bars, cause that bar needs the strength which is shown by large body.

With NR bars, we just want to understand the range bound period in the market. So a NR day indirectly passes us the message today's 6 hourly bars have been more or less in a narrow range.. which is good enough as setup.
Real trading opportunity comes to us only beyond this range.. so as long as price is within the range, it is no-trade, low profit zone (irrespective of the position in the range). By doing this, we would unncessarily complicate the setup.

Just my views
Happy Trading.

 

[rohangawale]

NR7 Stock Triggered on 11 Jan:

[B]STOCK		HIGH		LOW[/B]
ACC		925		912
JP ASSOCIATE	166.50		162.80
JINDAL STEEL	718.85		705.4
MARUTI		1462.25		1438
NTPC		235.35		232
REL INFRA	1180.9		1158.9
SAIL		244.9		239
SUN PHARMA	1594.4		1564.85
TATA MOTORS 	799		782.25
TATA STEEL	655.9		645.2

 

[dead_xtinct]

HI Rohan ...Thanx a lot cuz this nr7 thing really makes sense...
However i have some doubts and seek your help ..
.
1.) I bought Ambujacem @ 106.64 today ... and it touched 107.4(all this happned in the 1st half an hour of trading)...But Ur Last post says"No Breakout" for Ambujacem.......WHY?.....do we need to wait a certain time after market opening b4 we start trading with NR7 setup
.
2.)I ws not able to exit cuz i had a 1% target in my mind ....What profit taking strategy should we use ..Based on your experience how much % profit targets woud u suggest ? 0.65-0.75% ?