FNO Stocks Testing Important Support Levels – 19th August 2016

FNO stocks near important DMAs

NR7 FNO stocks with Inside day

What is NR7 pattern? NR7 pattern is made of 7 consecutive bars/candlesticks. The most recent bar, the 7th one will have a range that is much smaller than the previous six bars. The anticipation is either the price would break above the high or the lows of the NR7 bar.  NR7 is a simple price action trading set-up. The Stop loss is usually less and hence it has excellent risk-reward ratio.

NR 7 FNO stocks

NR7 FNO stocks that continued the narrow range on 8th day

Bata India has double top at 554

Bajaj Fin has multiple tops between 10320-10344

 

INFRATEL has double bottom at 340

BEML – guess the resistance