How to find a SHORT SELL scrip with open high low same strategy?
- Collect opening rates for Nifty-50 stocks
- Find the scrips with open = high and they are your your SHORT SELL scrips
- Enter the trade after 15-30 minutes of trade if the opening high is not breached
- Keep a stop few ticks above the opening high
- Keep a 1.5% to 2% profit target intraday basis
- 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.
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.