GIFTY opening range breakout

How to Use GIFTY Opening Range Breakout for NIFTY Trading:

This indicator marks the high and low of the first 3 hours (6:30 AM to 9:30 AM IST) of NIFTY trading. Once 9:30 AM hits, two horizontal lines extend until 3:30 PM showing the breakout levels.

Trading Guidelines:

• Go LONG when price breaks above the green line (opening range high)
  
• Go SHORT when price breaks below the red line (opening range low)
  
• Or, play the reversal if the box is large
  
• The shaded gray box shows the opening range period where you should wait and observe
  

Best used on 15-minute timeframe for NIFTY futures or options trading.