Trading NR7 setup

[rohangawale]

NR7 Stock Triggered on 1st Feb:

[B]STOCK		HIGH		LOW[/B]
ACC		883		861.25
AMBUJA CEM	102.55		100.70
BHARTI		313.7		305
CAIRN		264.5		260.6
CIPLA		327.9		316.5
HCL TECH	354		336.15
L&T		1444.7		1408
POWERGRID	113.65		112
RANBAXY		460.7		450.05
TATA POWER	1307		1286.85

 

[rkkarnani]

I am worried, is there some error in my Exploration in Metastock, if not then what is the significance of such large number of Stocks and Stock futures creating NR7 bars/candles....
(Would be happy if someone checks and confirms whether my List is correct or not)

Wherever there is 1 Month in front of the name it signifies February Future Contract.
A very large number are Inside days also!!!


ABAN - 1 MONTH (Inside bar also)
ABB
ABB - 1 MONTH (Inside bar also)
ACC LTD (Inside bar also)
AMBUJA CEMENTS
ANDHRA BANK - 1 MONTH (Inside bar also)
AUROBINDO PHARMA - 1 MONTH
BAJAJ HINDUSTAN - 1 MONTH
BANK OF BARODA - 1 MONTH (Inside bar also)
BHARAT FORGE - 1 MONTH (Inside bar also)
BHARTI AIRTEL (Inside bar also)
BHARTI AIRTEL - 1 MONTH
(Bharti Futures had formed 3 consecutive NR7 days in end of Dec, today it is 4th NR7 day in a row, in fact today it has the smallest range in last 12 trading sessions)
BHEL (Inside bar also)
BHEL 1 MONTH (Inside bar also)
BIOCON - 1 MONTH (Inside bar also)
BOMBAY RAYON FASHIONS - 1 MONTH (Inside bar also)
CIPLA 1 MONTH (Inside bar also)
CIPLA LTD (Inside bar also)
CONCOR - 1 MONTH (Inside bar also)
CROMPTON GREAVES - 1 MONTH
DCHL - 1 MONTH (Inside bar also)
DENA BANK - 1 MONTH (Inside bar also)
DISHTV - 1 MONTH (Inside bar also)
DIVI''S LABORATORIES - 1 MONTH
DLF (Inside bar also)
DLF - 1 MONTH (Inside bar also)
EDUCOMP SOLUTIONS - 1 MONTH
ESSAR OIL - 1 MONTH
EVEREST KANTO CYLINDER - 1 MONTH (Inside bar also)
FEDERAL BANK - 1 MONTH (Inside bar also)
FINANCIAL TECHNO (I) - 1 MONTH (Inside bar also)
GREAT EASTERN SHIPPING CO - 1 MONTH
GTL - 1 MONTH
GTLINFRA - 1 MONTH (Inside bar also)
GTOFFSHORE - 1 MONTH
GVKPIL - 1 MONTH (Inside bar also)
HCL TECH - 1 MONTH (Inside bar also)
HCL TECHNOLOGIES (Inside bar also)
HIND UNILEVER (Double Inside bar also)
HIND UNILVR 1 MONTH (Double Inside bar also)
HINDALCO 1 MONTH
HINDALCO INDS
HINDZINC - 1 MONTH
HOTEL LEELA VENTURES - 1 MONTH (Inside bar also)
IBREALEST - 1 MONTH (Inside bar also)
ICSA - 1 MONTH
IFCI - 1 MONTH (Inside bar also)
INDIA INFOLINE - 1 MONTH (Inside bar also)
INDIAN BANK - 1 MONTH (Inside bar also)
INDIAN HOTELS CO - 1 MONTH (Inside bar also)
ISPATIND - 1 MONTH
IVRCL INFRAST & PROJ - 1 MONTH (Inside bar also)
JAIPRAKASH ASSOC (Inside bar also)
JAIPRAKASH ASSOCIATES - 1 MONTH (Inside bar also)
LANCO INFRATECH - 1 MONTH (Inside bar also)
LIC HOUSING FINANCE - 1 MONTH
MARUTI UDYOG (Inside bar also)
MARUTI UDYOG - 1 MONTH
MLL - 1 MONTH (Inside bar also)
MRPL - 1 MONTH (Inside bar also)
MTNL 1 MONTH (Inside bar also)
NATL ALUM - 1 MONTH
NEYVELI LIGNITE CORPORATI - 1 MONTH (Inside bar also)
OPTOCIRCUI - 1 MONTH (Inside bar also)
ORACLE FINANCIAL SERVICES SOFTWARE - 1 MONTH (Inside bar also)
ORCHID CHEMICALS - 1 MONTH (Inside bar also)
PATEL ENGINEERING - 1 MONTH (Inside bar also)
PETRONET LNG - 1 MONTH (Inside bar also)
PIRHEALTH - 1 MONTH (Inside bar also)
POWERGRID - 1 MONTH (Inside bar also)
PUNJ LLOYD - 1 MONTH (Inside bar also)
RECLTD - 1 MONTH (Inside bar also)
RELIANCE CAPITAL (Inside bar also)
RELIANCE COMMUNICATIONS
RELIANCE COMMUNICATIONS - 1 MONTH
RELIANCE INDS (Inside bar also)
RELMEDIA - 1 MONTH (Inside bar also)
ROLTA INDIA - 1 MONTH (Inside bar also)
SBI 1 MONTH (Inside bar also)
SCI - 1 MONTH
SESA GOA - 1 MONTH (Inside bar also)
SIEMENS LTD
SINTEX - 1 MONTH
STATE BANK (Inside bar also)
SUN PHARMACEUTIC (Inside bar also)
SUN PHARMACEUTICALS IND. - 1 MONTH
SUN TV - 1 MONTH (Inside bar also)
SUZLON ENERGY (Inside bar also)
SUZLON ENERGY - 1 MONTH (Inside bar also)
SYNDICATE BANK - 1 MONTH (Inside bar also)
TATA CHEMICALS - 1 MONTH (Inside bar also)
TATA MOTORS (Inside bar also)
TATA TEA 1 MONTH (Inside bar also)
TATA TELESERV(MAHARASTRA) - 1 MONTH (Inside bar also)
TECH MAHINDRA - 1 MONTH (Inside bar also)
UCOBANK - 1 MONTH (Inside bar also)
UNION BANK - 1 MONTH
UNITED SPIRITS - 1 MONTH (Inside bar also)
VIJAYA BANK - 1 MONTH (Inside bar also)
VOLTAS - 1 MONTH
YES BANK - 1 MONTH (Inside bar also)
ZEE TELEFILMS - 1 MONTH (Inside bar also)

 

[VJAY]

Dear karnani sir,
Here is my ami explorer given scrips

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[rkkarnani]

My results show more stocks probably becoz I Explored all Futures and Nifty stocks!!!

In Any case a large number have NR7 and also are Inside days... what does it signify for the near future!!

 

[Karanm]

My results show more stocks probably becoz I Explored all Futures and Nifty stocks!!!

In Any case a large number have NR7 and also are Inside days... what does it signify for the near future!!

Sir, can you provide some formula to Explore 7 Inside Bars in Metastock with EOD Data.
Thanks

 

[AW10]

My results show more stocks probably becoz I Explored all Futures and Nifty stocks!!!

In Any case a large number have NR7 and also are Inside days... what does it signify for the near future!!

RKK, the kind of wide range / volatility that we have seen in last 10 days are quite different. We might see NR7 on many stocks.. but if u look at the broder mkt then it is fluctuating in the range of 4800 to 4920 . Nifty made 100 points range yesterday which is not NR.. so the days when Index is showing wild moves but many leading stocks are showing divergent move i.e. Narrow range.. then it is a warning sign. I would read it as weakness on broader scale which is smartly masked by index moves.

I would expect such a large NR7 stocks list, on days when Nifty also has NR7. Otherwise, it is a warning signal for me.

I am not sure if Nifty is making Flag consolidation pattern after first down move. If that is the case then we might see continuation of down move as indicated by flag pattern. Anyway, time to be cautious and be on alert.

Happy Trading

 

[rkkarnani]

RKK, the kind of wide range / volatility that we have seen in last 10 days are quite different. We might see NR7 on many stocks.. but if u look at the broder mkt then it is fluctuating in the range of 4800 to 4920 . Nifty made 100 points range yesterday which is not NR.. so the days when Index is showing wild moves but many leading stocks are showing divergent move i.e. Narrow range.. then it is a warning sign. I would read it as weakness on broader scale which is smartly masked by index moves.

I would expect such a large NR7 stocks list, on days when Nifty also has NR7. Otherwise, it is a warning signal for me.

I am not sure if Nifty is making Flag consolidation pattern after first down move. If that is the case then we might see continuation of down move as indicated by flag pattern. Anyway, time to be cautious and be on alert.

Happy Trading

Thanks AW for your views!! Yes, today is the 7th consecutive day when Nifty has swung more than 100 points intraday!!!
Correction : Todays Hi Lo for NF is : 4909 and 4824 : 85 points!

 

[rkkarnani]

Sir, can you provide some formula to Explore 7 Inside Bars in Metastock with EOD Data.
Thanks

This Post by rohan has the formula, please check the link!!!(Post no. 815 of the thread)

http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup-21.html#post378691

 

[Karanm]

This Post by rohan has the formula, please check the link!!!(Post no. 815 of the thread)

http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup-21.html#post378691

Sir, I am talking about Inside Bars and not Narrow Range.
When we talk about 7 Inside Bars, the Pattern is that Open/High/Low/Close of a Scrip remains within Open/High/Low/Close of Day1 for minimum next 6 Days (from Day 2 to Day 7).
Similarly When we talk about 10 Inside Bars, the Pattern is that Open/High/Low/Close of a Scrip remains within Open/High/Low/Close of Day1 for minimum next 10 Days (from Day 2 to Day 11).
Kindly help me.

Karan Mehta

 

[rkkarnani]

NR7 Bars formed today!!! Though the range of NF is 85 points but it is still the smallest in last & sessions!!

- NSE50 - 1 MONTH
-MINIFTY - 1 MONTH
ALSTOM PROJECTS INDIA - 1 MONTH
ASIANPAINT - 1 MONTH
AXIS BANK
AXIS BANK - 1 MONTH
BANK OF BARODA - 1 MONTH
BHEL 1 MONTH
BPCL 1 MONTH
CESC - 1 MONTH
CIPLA LTD
CONCOR - 1 MONTH
GTL - 1 MONTH
HDFC BANK
HDFC BANK - 1 MONTH
HERO HONDA - 1 MONTH
IDEA CELLULAR
ITC LTD
LARSEN & TOUBRO
LARSEN & TOUBRO - 1 MONTH
MARUTI UDYOG - 1 MONTH
NTPC
NTPC - 1 MONTH
PNB - 1 MONTH
PRAJ INDS - 1 MONTH
PUNJAB NATIONAL BANK
STERLITE INDS (I)
STERLITE INDS (IND) - 1 MONTH
TATA STEEL
TATA STEEL - 1 MONTH
ULTRATECH CEMENT - 1 MONTH
WIPRO LTD
- CNX 100 - 1 MONTH
- CNX BANK INDEX - 1 MONTH
- CNX IT - 1 MONTH
- CNX NIFTY JUNIOR - 1 MONTH
ABAN OFFSHORE - 1 MONTH
ABB
ABB - 1 MONTH
ACC 1 MONTH
ACC LTD
ALLAHABAD BANK - 1 MONTH
AMBUJA CEMENTS
AMBUJACEM 1 MONTH
ANDHRA BANK - 1 MONTH
ASHOK LEYLAND - 1 MONTH
AUROBINDO PHARMA - 1 MONTH
BAJAJ HINDUSTAN - 1 MONTH
BAJAJ-AUTO - 1 MONTH
BALRAMPUR CHINI MILLS - 1 MONTH
BANK OF INDIA - 1 MONTH
BEL - 1 MONTH
BHARAT EARTH MOVERS - 1 MONTH
BHARAT FORGE - 1 MONTH
BHARAT PETROLEUM
BHARTI AIRTEL
BHARTI AIRTEL - 1 MONTH
BHEL
BHUSHAN STEEL & STRIPS - 1 MONTH
BIOCON - 1 MONTH
BOMBAY RAYON FASHIONS - 1 MONTH
CAIRN INDIA
CAIRN INDIA - 1 MONTH
CANARA BANK - 1 MONTH
CENTURY TEXTILES - 1 MONTH
CHAMBAL FERTILIZERS - 1 MONTH
CHENNAI PETROLEUM - 1 MONTH
CIPLA 1 MONTH
COLGATE PALMOLIVE (I) - 1 MONTH
CROMPTON GREAVES - 1 MONTH
CUMMINS INDIA - 1 MONTH
DABUR INDIA - 1 MONTH
DCHL - 1 MONTH
DENA BANK - 1 MONTH
DISHTV - 1 MONTH
DIVI''S LABORATORIES - 1 MONTH
DLF
DLF - 1 MONTH
DR REDDY 1 MONTH
EDUCOMP SOLUTIONS - 1 MONTH
ESSAR OIL - 1 MONTH
EVEREST KANTO CYLINDER - 1 MONTH
FEDERAL BANK - 1 MONTH
FINANCIAL TECHNO (I) - 1 MONTH
FSL - 1 MONTH
GAIL - 1 MONTH
GAS AUTHORTY (I)
GLAXOSMITHKLINE PHARMA - 1 MONTH
GMR INFRASTRUCTURE - 1 MONTH
GRASIM 1 MONTH
GRASIM INDS
GREAT EASTERN SHIPPING CO - 1 MONTH
GSPL - 1 MONTH
GTLINFRA - 1 MONTH
GTOFFSHORE - 1 MONTH
GVKPIL - 1 MONTH
HCL TECH - 1 MONTH
HCL TECHNOLOGIES
HDFC 1 MONTH
HDFC LTD
HERO HONDA
HIND UNILEVER
HIND UNILVR 1 MONTH
HINDALCO 1 MONTH
HINDALCO INDS
HINDUSTAN CONSTRUCTION CO - 1 MONTH
HINDZINC - 1 MONTH
HOTEL LEELA VENTURES - 1 MONTH
HOUSING DEV & INFRA - 1 MONTH
HPCL 1 MONTH
IBREALEST - 1 MONTH
ICICI BANK
ICICI BANK - 1 MONTH
ICSA - 1 MONTH
IDBI - 1 MONTH
IDEA CELLULAR - 1 MONTH
IDFC
IDFC - 1 MONTH
IFCI - 1 MONTH
INDIA CEMENTS - 1 MONTH
INDIA INFOLINE - 1 MONTH
INDIAN BANK - 1 MONTH
INDIAN HOTELS CO - 1 MONTH
INDIAN OVERSEAS BANK - 1 MONTH
INFOSYS 1 MONTH
INFOSYS TECHNOLO
IOC - 1 MONTH
ISPATIND - 1 MONTH
ITC 1 MONTH
IVRCL INFRAST & PROJ - 1 MONTH
JAIPRAKASH ASSOC
JAIPRAKASH ASSOCIATES - 1 MONTH
JAIPRAKASH HYDRO-POWER - 1 MONTH
JINDAL STEEL & POWER - 1 MONTH
JINDAL STEEL POW
JINDALSAW - 1 MONTH
JSW STEEL - 1 MONTH
KFA - 1 MONTH
KOTAK MAHINDRA BANK - 1 MONTH
KSOILS - 1 MONTH
LAKSHMI MACHINES - 1 MONTH
LANCO INFRATECH - 1 MONTH
LIC HOUSING FINANCE - 1 MONTH
LUPIN - 1 MONTH
M&M 1 MONTH
MAHINDRA & MAHIN
MARUTI UDYOG
MLL - 1 MONTH
MOSER-BAER (I) - 1 MONTH
MPHASIS BFL - 1 MONTH
MRPL - 1 MONTH
MTNL 1 MONTH
NAGARJUNA CONSTRUCTION CO - 1 MONTH
NATL ALUM - 1 MONTH
NEYVELI LIGNITE CORPORATI - 1 MONTH
NFTYMCAP50 - 1 MONTH
NOIDATOLL - 1 MONTH
ONGC - 1 MONTH
ONGC CORPN
OPTOCIRCUI - 1 MONTH
ORACLE FINANCIAL SERVICES SOFTWARE - 1 MONTH
ORCHID CHEMICALS - 1 MONTH
ORIENTAL BANK - 1 MONTH
PANTALOON RETAIL (I) - 1 MONTH
PATEL ENGINEERING - 1 MONTH
PATNI COMPUTER SYST - 1 MONTH
PETRONET LNG - 1 MONTH
PIRHEALTH - 1 MONTH
POLARIS - 1 MONTH
POWER FINANCE CORP - 1 MONTH
POWERGRID - 1 MONTH
POWERGRID CORPORATION
PTC - 1 MONTH
PUNJ LLOYD - 1 MONTH
RANBAXY 1 MONTH
RANBAXY LABS
RECLTD - 1 MONTH
RELIANCE CAPITAL
RELIANCE CAPITAL - 1 MONTH
RELIANCE COMMUNICATIONS
RELIANCE COMMUNICATIONS - 1 MONTH
RELIANCE INDS
RELIANCE INDS 1 MONTH
RELIANCE INFRASTRUCTURE LTD
RELIANCE NATURAL RESOURCES - 1 MONTH
RELIANCE POWER LTD
RELINFRA 1 MONTH
RELMEDIA - 1 MONTH
RIIL - 1 MONTH
ROLTA INDIA - 1 MONTH
RPOWER - 1 MONTH
SAIL - 1 MONTH
SBI 1 MONTH
SCI - 1 MONTH
SESA GOA - 1 MONTH
SHREE RENUKA SUGARS - 1 MONTH
SIEMENS - 1 MONTH
SIEMENS LTD
SINTEX - 1 MONTH
STATE BANK
STEEL AUTHORITY
STERLING BIOTECH - 1 MONTH
SUN PHARMACEUTIC
SUN PHARMACEUTICALS IND. - 1 MONTH
SUN TV - 1 MONTH
SUZLON ENERGY
SUZLON ENERGY - 1 MONTH
SYNDICATE BANK - 1 MONTH
TATA CHEMICALS - 1 MONTH
TATA MOTORS
TATA MOTORS - 1 MONTH
TATA POWER 1 MONTH
TATA POWER COMP
TATA TEA 1 MONTH
TATA TELESERV(MAHARASTRA) - 1 MONTH
TATACOMM - 1 MONTH
TCS
TCS - 1 MONTH
TECH MAHINDRA - 1 MONTH
TITAN INDUSTRIES - 1 MONTH
TRIVENI ENGG & INDS - 1 MONTH
TULIP TELECOM - 1 MONTH
TV-18 - 1 MONTH
UCOBANK - 1 MONTH
UNION BANK - 1 MONTH
UNITECH
UNITECH - 1 MONTH
UNITED PHOSPHOROUS - 1 MONTH
UNITED SPIRITS - 1 MONTH
VIJAYA BANK - 1 MONTH
VOLTAS - 1 MONTH
WELSPUN GUJ ST. RO. - 1 MONTH
WIPRO - 1 MONTH
YES BANK - 1 MONTH
ZEE TELEFILMS - 1 MONTH