Trading NR7 setup

[rohangawale]

rohan, based on the data you are posting fo seveal months, could we derive a trading plan? like if we have 2NR7, then buy above the range or sell below the range? if so what are the target, sl?

appreciate your work here

Hi Bandlab,
What we have discussed here in the thread is what im following,
its not question of 2NR7 or 3-4-5NR7 for me.
only what it means is the more contraction, the more probability of expansion on next day. but 2NR7 day doesnt mean that its confirm we will get breakout, 2NR7 day in simple words is NR8 day.
for all NR7 or XXNRX day the strategy is same (atleast for me)
to buy above high with sl of prev day low,
and to short below short with sl of prev day high.
in that also we can use our own strategy to play the trade and put sl based on our system
actually NR7 is just to identify the probable potential in the stock if goes beyond the level. but if traded with our strategy will give much more confidence in the trade.
so NR7 for best result can be traded with our strategy instead of just putting the trades based on High / Low breakout. (as per my understanding and my feeling, i can be wrong, which market proved me always)

 

[veluri1967]

(as per my understanding and my feeling, i can be wrong, which market proved me always)

That reflects your maturity as an efficient trader.:clap:

 

[rohangawale]

NR7 Stocks Triggered on 20th Jan:

[B]STOCK		HIGH		LOW[/B]
AMBUJA CEM	110		106.4
ICICI BANK	884.60		868.95
JINDAL STL	681.5		668.25
L&T		1651.9		1630.5
POWER GRID	117.95		115.9
RPOWER		159.25		156.5
SUN PHARMACE	1493.8		1465.8
TCS		792.2		770.9
TATA POWER	1427		1408.75

NR7 Close on 21st Jan:

		[B]20-Jan			21-Jan			
STOCK		HIGH	LOW		Close	Day Range	Trigger[/B]
AMBUJA CEM	110	106.4		109.2	3.8		No Breakout
ICICI BANK	884.60	868.95		852.7	30.7		Down Break
JINDAL STL	681.5	668.25		670.50	17.80		No Breakout
L&T		1651.9	1630.5		1524.1	119.8		Down Break
POWER GRID	117.95	115.9		113.65	4.4		Down Break
RPOWER		159.25	156.5		152.95	4.50		Down Break
SUN PHARMACE	1493.8	1465.8		1464.85	38.80		Down Break
TCS		792.2	770.9		770.65	24.05		Down Break
TATA POWER	1427	1408.75		1356.70	82.85		Down Break

 

[rohangawale]

No new NR7 Stocks Triggered on 21st Jan 2010.
1st day of 2010 when not a single stock of nifty fifty turned out of NR7.
this as we need NR7 to trade on next day.
:beer: still will have fun as very good range day after long time and 1st time in 2010 , so enjoy with bear and with beer.:beer:
135 pts range in nifty

 

[nimish_rulz]

No new NR7 Stocks Triggered on 21st Jan 2010.
1st day of 2010 when not a single stock of nifty fifty turned out of NR7.
this as we need NR7 to trade on next day.
:beer: still will have fun as very good range day after long time and 1st time in 2010 , so enjoy with bear and with beer.:beer:
135 pts range in nifty

What charting software do u use?

 

[rohangawale]

What charting software do u use?

Metastock version 9 which is eod based.

 

[rohangawale]

NR7 Stocks Triggered on 22 Jan:

[B]STOCK		HIGH		LOW[/B]
TCS		765		744.7
WIPRO		715.00		695.55

 

[rohangawale]

NR7 Stocks Triggered on 27th Jan:

[B]STOCK		HIGH		LOW[/B]
ONGC 		1117.8		1102.8
TCS		759.70		740.15

 

[rohangawale]

NR7 Stocks Triggered on 27th Jan:

[B]STOCK		HIGH		LOW[/B]
ONGC 		1117.8		1102.8
TCS		759.70		740.15

NR7 Stock Close on 28th Jan:

		[B]27-Jan			28-Jan			
STOCK		HIGH	LOW		Close	Day Range	Trigger[/B]
ONGC 		1117.8	1102.8		1102.35	58		Down Break
TCS		759.70	740.15		741.75	30		No Breakout

 

[rohangawale]

NR7 stocks triggered on 28th jan:

BHEL
M&M
RELINFRA.

Sorry friends was not able to post in specified format due to lack of time.