Open High Low Same Trading Strategy For Indian Stock Market

Open High Low Same

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 a really easy to follow strategy for even novice traders. This strategy works well in all liquid scrips but I suggest you to follow only Nifty 50 stocks with this strategy.

Advantage Of Open High Low Same Trading Strategy:

  • Easy to use
  • No need of 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 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 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

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 list of symbols and scan on horly 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.

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Author Bio

Indrajit Mukherjee

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.

34 thoughts on “Open High Low Same Trading Strategy For Indian Stock Market”

  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

      1. 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?

      1. Hello Sir,
        where we can find the OHL from Google Finance ? Tried in EOD charts Pls suggest

        BR|| SINU S

      1. Thanks for the reply sir, One more question. How much percentage can we expect to move. Suppose the script is at 100 rs and you recommend it as openLow on the screener. So how much move can we expect on this sir?

  2. 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.

  3. 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

  4. 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?

  5. 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?

  6. 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

      1. Thanks…can I get the live OHL strategy selected stocks in mobile downloadable file to do the trading through by broker.

  7. 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

      1. lot of thanks for the reply sir….
        Sir unfortunately Dont have any relative lives in india…any other solution please?
        and also tell me how much minimum deposit i should have to start with ?

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