Open high low screener is used for intraday stocks strategy and it lists out stocks when either Open= high for day , or where Open = low for day. When open= high for day , usually it means that stocks has selling pressure from the moment it opened in the morning. Similarly when Open=low, it means buyers have been dominant from the moment stock began trading and is bullish for day.You can use below scanner for open high low stocks and trade in intraday
NOTE: If you see previous day data , click below on table and click “reload frame” to refresh
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How to Use Open High Low stocks Intraday Strategy.
Open high low strategy is one of the best and easiest strategy for all beginners. This strategy works on Nifty and Futures and options stocks perfectly well. If done regularly with proper risk management and money management , Open high low strategey will help to answer your question of how to select stocks for intraday. Lets take a detailed look on how to select stocks for intraday using this strategy
At 9.30 AM , open this strategy and see which stocks are Open=High and Open = low .
Once you have list of stocks , check What is Nifty direction today. If markets are bullish, means if nifty is in green(minimum .5% up) , we will trade open=low stocks. If Nifty is in red (minimum .5% down) , we will go for open = high stocks.
Decise your daily risk and take minimum two trades on such stocks . If you have 50,000 rs , daily risk will be 1% which is 500rs.
Now 500rs is for 2 trades so risk per trade is 250rs
Assuming stop loss is 5rs for both stocks , buy 250/5= 50 quantity of each stock and wait for targets.
Book profits when target is met , or keep revising stop loss if stock goes in your direction
You can use NSEINDIA website for seeing Nifty situation.