Daily Tryst with Nifty

[Sunil]

Higher low on EOD?

No TP...
I won't call it a Higher Low.
But it will be tagged as HL only if it makes a Higher High (ie when Nifty Spot goes above prev. high of 4693).

 

[MurAtt]

No TP...
I won't call it a Higher Low.
But it will be tagged as HL only if it makes a Higher High (ie when Nifty Spot goes above prev. high of 4693).

Now that is a big Ask!!!

Camarilla Pivots for 2morrow based on NF as per excel file given by Rajendrani

H4 4581 Long breakout
H3 4549 GO SHORT - RESISTANCE
H2 4538
H1 4528

L1 4506
L2 4496
L3 4485 GO LONG - SUPPORT
L4 4453 Short breakout

 

[MurAtt]

-- deleted ---

 

[Sunil]

Repeating a question Sunil Sir --- Your theory on NR4 n NR7 -- which thread?
Thanks for bearing by constant pestering

Not "my" theory, Murtuza; NR4/NR7/IB/BB narrowing/rectangle, etc are nothing but Range Compression. A period of indecision which leads to price movement within a narrow, tight band.
It's obviously the "big (smart) money" which leads to the breakout, and confirming the trend.

This concept is as old as the Dow Theory (which is the baap/basis of S/R working and flow method)

The way to deal the following in EOD charts is the same:
NR4-2 (consecutive NR4 days)
NR7
Inside Bar

Buy above bar's high; sell below bar's low.

If any 2 out of the above 3 combine, then I prepare myself for a one-way ride on the following day.

BTW, answering to your query has just given me an idea:
The quoted message is for EOD/Daily chart.
For intraday, I apply only IB to 60min chart.
I am thinking of applying NR4-2 & NR7 concept in 60min chart too.

Will do some backtest of last month along with a week's forward test :!

Obviously, I will have to iron out the 1st bar (which is of 5min duration) and last bar (which is of 30min duration)



PS: there is no "sir" in this thread. We all are students of NIFTY SIR and trying to be its obedient follower.

 

[AW10]

Sunil, Great to see u back in action. Looking forward for your posts.

As far as I know, NR4/NR7 conepts are first published by Toby Crabel and later on Linda Raschke also mentioned them in her book "Street Smart".

Sharing some of my observations on these patterns,
- I have found that - 2 day NR4 is quite rare (<5% of time) but NR7 is much better (approximately 2 to 3 NR7 in a month).
- NR4 has higher occurance but has lower reliability (compared to NR7)
- NR7 does work pretty well, specailly when it comes after a trend of 3 to 4 days.
- Break of NR7 can easily be traded for next 2 days.
- Last 2 to 3 NR7 signals have not worked for more then a day. I think, it is due to strong upward momentum, NR7 break is bought/sold immediately and we end up having Outside day taking away the stop.
- NR7 is good setup for options trading where one can start with direction neutral position and then adjust it to directional position in next 1 or 2 day.

Happy Trading

 

[MurAtt]

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[praveen taneja]

Most of talks on this thread are going above my head like NR4/NR7 etc.hope that one day my son who is 12 year old n watch me when i search stock to invest on net with news and EPS and vollume at rediff and nseindia.com.will learn all this and tell me what i cannot understand whole life hehehehe
PS.pls dont mind friends till now for me East or West my tukka is best or you can say angoor khatte hain

 

[Sunil]

LOL, Murtuza,
try google

here's one:
http://thepatternsite.com/nr7.html

 

[praveen taneja]

Request to circulate... ..
We all carry our mobile phones with hundreds of names/ numbers stored in its memory but yet nobody, other than ourselves, know which of these numbers belong to our near and dear ones?

In case we are involved in an accident or had a heart attack and the people attending us get hold of our mobile phone but don't know which number to call to inform our family members.
Yes, there are many numbers stored but which one is the
contact person in case of an emergency?

For this reason, we must have one or more telephone numbers stored under the name ICE (In case of Emergency) in our mobile phones.

Recently, the concept of "ICE" is catching up quickly.
It is simple, an important method of contact during emergency situations. As cell phones are carried by majority of the population, just store the number of a contact person or person who should be contacted at during emergency as ICE" (meaning In Case of Emergency).
The idea was thought up by a paramedic who found that when they went to the scenes of accidents, there were always mobile phones with patients, but they didn't know which number to call.
He therefore thought that it would be a good idea if there was a nationally recognized name for this purpose.

Following a disaster in London , the East Anglican Ambulance Service has launched a national "In case of Emergency (ICE)" campaign.

In an emergency situation, Emergency Service personnel and
hospital staff would then be able to quickly contact your next of kin, by simply dialing the number stored as "ICE".

Please forward this. It won't take too many "forwards" before everybody will know about this. It really could save your life, or put a loved one's mind at rest.
For more than one contact name simply enter ICE1, ICE2 and ICE3 etc. A great idea that will make a difference!
Let's spread the concept of ICE by storing an ICE number in our mobile phones today! Please forward to all your nearest and dearest..... ...

 

[MurAtt]

LOL, Murtuza,
try google

here's one:
http://thepatternsite.com/nr7.html

Gotcha --- got the concept -- that's 90% of the work done.
Now need to get someone to code AFL (or get ready AFL from somewhere) for this and that another 90% over.
Balance 20% will be AMI's job

I've got AB and am looking for EOD data - where can I get data filtered that can be imported into AB directly - of course for free after EOD?