Trading NR7 setup

[rohangawale]

Nr7 stock triggred on 23 dec.

[B]STOCK		HIGH		LOW[/B]
ABAN		1239.25		1217.55
AXIS BANK	985.00		966.80
BHARAT PETRO	616.8		606.35
RANBAXY LAB	530.85		521.25

NR7 Stock Close on 24th Dec:

		[B]23-Dec			24-Dec	
STOCK		HIGH	LOW		Close	Trigger[/B]
ABAN		1239.25	1217.55		1228.15	No Breakout
AXIS BANK	985.00	966.80		987.35	Up Break
BHARAT PETRO	616.8	606.35		613.50	No Breakout
RANBAXY LAB	530.85	521.25		520	Down Break

 

[abhiwhy]

mary christmas

to all of u and have healthy ,wealthy time ahead

 

[mayocraze]

thanks. but links are not working i think.

 

[AW10]

thanks. but links are not working i think.

Can u olz highlight which nonworking link you refering to ? which post # etc.. so that I can look at them and try to fix.

Happy Trading

 

[unbeatable]

Hi AW10,

Thanks for sharing your system 1st of all....

I have taken your spreadsheet formula and backtested it for last 2 yrs but have seen many SL hits and very small movements even when the NR7 range < 50% (ATR) as you said in one of the post....

Can you please help with it... I want to know whether I am doing something wrong but it is trigerring SL on both the sides in those instances...

For example , 27Aug had NR7 range only 33% of ATR which is less than 50% and should have been strong movement according to your theory but it gave only 10 pts on each side for Nifty on that day ... Same with Reliance also , there are lot of whipsaws... Can you tell me know to get over this problem

 

[rohangawale]

NR7 Stocks Triggered on 29th Dec:

[B]STOCK		HIGH		LOW[/B]
NIFTY		5214.6		5175.85
ACC		867.75		857.1
AXIS BANK	997.85		982.25
BHARTI AIRTEL	329		323
HCL		377		370.1
ITC		257.45		254.3
JP ASSOC	145.5		143.25
JINDAL STEEL	732.75		723
RCOM		177.5		174.8
SAIL		241.5		237.05
TATA STEEL 	627.9		616.45
UNITECH		82.9		81.6

 

[rkkarnani]

Hi AW10,

Thanks for sharing your system 1st of all....

I have taken your spreadsheet formula and backtested it for last 2 yrs but have seen many SL hits and very small movements even when the NR7 range < 50% (ATR) as you said in one of the post....

Can you please help with it... I want to know whether I am doing something wrong but it is trigerring SL on both the sides in those instances...

For example , 27Aug had NR7 range only 33% of ATR which is less than 50% and should have been strong movement according to your theory but it gave only 10 pts on each side for Nifty on that day ... Same with Reliance also , there are lot of whipsaws... Can you tell me know to get over this problem

My chart does not show NR7 on 27th Aug 2009!!! I may be erring!!
In my chart 26th Aug was NR7 and had Hi 4703 and Lo 4653 = a range of 50 points!! ATR for 14 periods on 26th was 123!!
27th Aug had a range of 57 points. It broke the high of 26th Aug but not the low!!! 28th Aug did a high of 4753, i.e went up by 50 points from the high of NR7 bar on 26th!! However the important thing to note in this case is that 27th August was Derivative closing day!!!
UB, please do keep in mind that AW10 has clearly mentioned that this is a 'setup' and NOT a strategy!!!

 

[rohangawale]

NR7 Stocks Triggered on 29th Dec:

[B]STOCK		HIGH		LOW[/B]
NIFTY		5214.6		5175.85
ACC		867.75		857.1
AXIS BANK	997.85		982.25
BHARTI AIRTEL	329		323
HCL		377		370.1
ITC		257.45		254.3
JP ASSOC	145.5		143.25
JINDAL STEEL	732.75		723
RCOM		177.5		174.8
SAIL		241.5		237.05
TATA STEEL 	627.9		616.45
UNITECH		82.9		81.6

NR7 Stocks Close On 30th Dec:

		[B]29-Dec			30-Dec	
STOCK		HIGH	LOW		Close	Trigger[/B]
NIFTY		5214.6	5175.85		5169.45	Down Break
ACC		867.75	857.1		871.4	Up Break
AXIS BANK	997.85	982.25		981.40	Down Break
BHARTI AIRTEL	329	323		325.7	No Breakout
HCL		377	370.1		371.65	No Breakout
ITC		257.45	254.3		250.70	Down Break
JP ASSOC	145.5	143.25		142.20	Down Break
JINDAL STEEL	732.75	723		711.90	Down Break
RCOM		177.5	174.8		174.24	Down Break
SAIL		241.5	237.05		238.10	No Breakout
TATA STEEL 	627.9	616.45		614.80	Down Break
UNITECH		82.9	81.6		82.70	No Breakout

 

[rohangawale]

---------------

 

[Placebo]

Hi Rohan and Anup. Do you guys follow up on motionless stocks in which nr7 triggered but failed to move either on the upside or downside or just ignore it and move on to the new list ?

The reason i asked is because sometimes when nr7 triggers (on intraday charts) and an instant move does not take place it consolidates further for a couple of bars (max) and then either breaks out or down drastically. And it would be interesting to see if this particular behavior is prevalent on daily/weekly charts as well.

Cheers and Happy Trading