Open High Low Same Trading Strategy For Indian Stock Market

The open high low same strategy is quite popular among Indian stock traders. In fact, I am watching this strategy for 6-7 years now and this is really easy to follow strategy for even novice traders. This strategy works well in all liquid scrips but I suggest you follow only Nifty 50 stocks with this strategy.

Advantage Of Open High Low Same Trading Strategy:

  • Easy to use
  • No need for prolonged analysis
  • Just follow the market for few minutes and you get the scrips for the day

How to find a BUY scrip with open high low same strategy?

  1. Collect opening rates for Nifty-50 stocks
  2. Find the scrips with open = low and they are your BUY scrips
  3. Enter the trade after 15-30 minutes of trade if the opening low is not breached
  4. Keep a stop few ticks below the opening low
  5. Keep a 1.5% to 2% profit target intraday basis
  6. Do not carry forward the trade overnight

How to find a SHORT SELL scrip with open high low same strategy?

  1. Collect opening rates for Nifty-50 stocks
  2. Find the scrips with open = high and they are your SHORT SELL scrips
  3. Enter the trade after 15-30 minutes of trade if the opening high is not breached
  4. Keep a stop few ticks above the opening high
  5. Keep a 1.5% to 2% profit target intraday basis
  6. Do not carry forward the trade overnight

You can also create a simple excel file to capture live data from your trading terminal. If you are using Zerodha Pi terminal you can use the LINK TO EXCEL option to import live data from the Pi terminal to an excel sheet. Once you can import the data you can write some simple formulas to create a simple open high low same a trading system.

Open High Low Same

Check the power of the trading system. Watch the massive rally in Bank Nifty after open = low[/caption]

You can also write a simple scanner on the Zerodha Pi platform. Just create a scanner with the following code for open low same BUY code:

OPEN=LOW

Now, you can add a list of symbols and scan on hourly candle after 15-30 minutes of market opening. It will scan for scrips with open=low in the first hourly candle. Your comments in this regard can take this discussion forward.

Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.



Categories: Trading Strategy, Zerodha

Tags: , , , , ,

54 replies

  1. thanks for helping small traders.
    open, high ,low wonderful technique sirji.this is expected from you since long. i read first time on sri manikandan’s webinar where he explained the excel formula also.thanks for help to small traders with this useful and simple technique.
    what is bothering is time taken to scan nifty 50 stocks and then midcaps50 and then to implement your decisions quickly,as at same time nfty and bnk nfty intraday traders and commodity intraday traders /news based trade ideas all scramble for attention in 1 st hour only.
    rgrds and thanks sir.
    r.v.rao

  2. Which time frame do we have to try this strategy? Any time frame?

    • Check the results within first 5 minutes of market open. Then you can play the first 5 or 15 minutes range break. If open = low, then take only buy trade in range break upside and if open = high then take only sell trades in range break downside.

      • Sir, I have noticed that for different brokers, charts are different for example Sharekhan and Zerodha. Sometimes Zerodha chart shows OHL opportunity and some sometimes Sharekhan charts show OHL strategy. For example today there was OHL opportunity in Sharekhan Nifty chart but there was no OHL opportunity on Zerodha Nifty Chart. Which feed is more accurate? Zerodha’s? or Sharekhan’s?

  3. Sir, Your free NSE stock screener gets the feed from Zerodha or Sharekhan?

  4. Sir, Can this approach be used in Spanish stock market?

  5. Dear Sir,
    Does your strategy work on KLSE?

  6. today there are some losses right?

  7. will it be applicable to FUTURES also.?

  8. Hello Sirji,
    in the NSE stock screener one more important column is required which is Close price ( previous day close). This is important to check how far the stock has opened from previous close ( up or down ) though you have column 8 for it but still this field is required.
    Also do i need to download this excel or need to check it everytime on your website.
    Thanks.

  9. We r thankful to you to share your knowledge with us. Indeed it’s a great strategy. Sometyms the data in your screener is not accurate. if possible, kindly make a video with live trading with the screener. I am sure, most of people doubt wil get clear. Thanks

  10. How do we shift stop losses? If for example we r in buy position and stock is going up how do we shift stop loss? Will it b close of previous candle?

  11. Dear Indrajit,
    Range break means next candle closing above/below previous candle’s high/low or next candle moving above or below previous candle’s high or low?

  12. Hi, I am new to share trade. Can you please explain it with some examples. I understand that we need to buy when open= low & vice versa.
    But I am confused at what price to buy and sell for profit. Some practical examples will be helpful

  13. hi sir i want to buy in intraday or margin type

  14. hello….
    i am from pakistan…..and want to Set it up all….
    i dont know….how to start trading with “nifty”…
    Let me know…how can i make account with nifty and also let me know the minimum amount to start with….may i know the basic of stock trading ,
    hopefully you will reply me as soon as possible

  15. Does this strategy stand the test of time? Or like other strategies falters after sometime?

    • Pranay, if you are looking for a holy grail, definitely, this is not one. From your comment, it looks like you change your strategy after every few days. Plz stick to a strategy and apply some good money management if you want to get success in stock market.

  16. Hello Indrajit,
    I am fairly new to intraday trading. So pls excuse if my question is silly.

    I clearly understand the Open=Low strategy to buy stocks. Buy Open=low stocks and sell with 2% profit.
    But i dont get the Open=High strategy. How could one sell the stock if he does not hold it? Also why would we buy it in the first place, if the strategy says we are going for a loss.

  17. Dear Sir, you mentioned profit target is from 1.5%-2%. Is that the percentage of the stock price? Or percentage of capital employed? I hope it’s not percentage of stock price, for example stocks like HEROMOTOCO has a LTP above 3k, 2% of that would mean 60 rs, and catching a 60 point move in intraday seems too good to be true. So can you please clarify?

    Thank you

    P.S., I’m a beginner in trading so please pardon me if I have offended you

  18. Sir we should use any other filter with this strategy, i mean if the stock has move 1% to 3% higher in first 5 minute candle that means now there is very less seller available.So it give good result. Can you let us know we should use any other filter ot not, If yes then please let us know which filter i should use

  19. Is this – open high low strategy – applicable for NIFTY also for future trading?

  20. Dear indrajit sir,

    is this possible to get open range in excel ( like 1st 5 mints or 1st 15 mints or 9.20 am to 9.30 am ) in columns as ( low – high ).

    if its possible please help

    thanks…

  21. April 22, 2018 at 10:18 pm
    Dear indrajit sir,

    is this possible to get opportunity in gap up and gap down in auto trading platform..

    if its possible please help

    thanks…

  22. Plz Sir Help Me
    I want minimum 1% or more gap up and gap down and Open=Low and open=High amibroker AFL plz sir help me….
    [email protected]

  23. Hello indrajit sir you done really a great work for people like me. First of all a big applaude for that.

    Sir my querry is i use your NSE STOCK SCREENER after 9:25 so i get the open high low stocks for trade but sir my concern is after select stocks can i add my setup for that stock to yrade??

    • Karn, once you get the stocks to trade, you can enter them and if needed hold till 3 PM too. Can apply some filters, like if the short term and long term trend are up for a stock it is good to buy and vice versa for short. Also, OH stocks below yesterday’s close are good to short and OL stocks above yesterday’s close are good to buy.

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