Futures · technicalIntradayNIFTYlow complexity

15-min opening range breakout

The 15-minute opening range breakout marks the high and low NIFTY futures make between 09:15 and 09:30, then trades whichever side breaks first. A break above the high is a buy, a break below the low is a sell. It takes at most one trade a day, protects it with a 0.5% stop and closes at 15:15. It is one of the oldest and most searched intraday setups.

Marks NIFTY futures' high and low from 09:15 to 09:30 and trades the first break of either side, with a 0.5% stop and a 15:15 exit.

Market viewEither direction (follows the move)

TradesNIFTY near-month futures, 1 lot

RiskOpen-ended (loss not capped by the structure)

CapitalFutures margin

SuitsBeginner

Trades a month20.4

Typical hold5.5 hours

Profitable months4 of 12

Longest losing run7 trades

Made money inTrend days that close near the high or lowDays NIFTY was above its 20-day average

Lost money inChoppy days with a wide rangeQuiet days with a range under 0.75%

Default settings

Symbol

Or minutes

Stop %

Entry until

Exit time

Lots

Backtest this strategy →Change any setting, pick your own period and run it in the Quantsapp web app. Backtesting is part of the Max plan. Pro+ members can use it now as a free trial.

How it trades

What it trades

Universe

NIFTY Intraday · 1 Oct 25 → 30 Sep 26

Enters

First tick above the 09:15-09:30 high (buy) or below its low (sell), until 14:30

Legs

BUY FUT · Near month · Current month · 1 lotSELL FUT · Near month · Current month · 1 lot

Exits

stop 0.5% of the entry price against the trade, filled at the tick that crosses ittime Square off at 15:15

Re-entry

None - only the first break of the day is traded

Range

opening range = the session's exchange high / low as of OR_MINUTES after 09:15 (the futures running high / low carried in bt.history("fut").extra - the exchange's own, not a max of LTPs).

Entry

from the end of the range until ENTRY_UNTIL, the first futures tick trading strictly above the range high -> buy LOTS; strictly below the range low -> sell LOTS. Filled at that tick's price. First break only: once one side triggers, the other side is dead for the day.

Stop

STOP_PCT % of the entry price against the trade (checked on every tick, filled at the tick that crosses it - not at the stop level).

Exit

EXIT_TIME square-off. No target, no re-entry.

Results

PRE-BUILT · DEFAULTS

NIFTY · 2025-10-01 → 2026-09-30 · 245 trades · before costs

Net P&L−₹25,832

Win rate50%

Max drawdown−₹1,02,852

Avg per trade−₹105

Profit factor0.97

Worst trade−₹10,207

Where it made and lost money

The type of day decided everything. In this test, 69 trend days that closed near their high or low earned ₹4,07,694 with a 78% win rate, because the first break of the opening range kept going until 15:15. Choppy days with a wide range but a mid-range close lost ₹2,54,360 over 66 trades, and quiet days lost ₹1,63,644 over 108 trades: the break reversed into the 0.5% stop or faded by the close. The 20-day trend also mattered, +₹80,100 over 120 trades in an uptrend against -₹90,410 over 123 in a downtrend. Since the day type is only known afterwards, the system pays for every choppy day to catch the trend days.

Kind of session on the entry day

Quiet session (range under 0.75%)−₹1,63,644108 trades45% won

Trend day (closed near the high or low)+₹4,07,69469 trades78% won

Choppy day (wide range, closed mid-range)−₹2,54,36066 trades30% won

Trend going in

Uptrend (NIFTY above its 20-day average)+₹80,100120 trades56% won

Downtrend (NIFTY below its 20-day average)−₹90,410123 trades46% won

Session direction on the entry day

NIFTY closed above its open−₹70,679119 trades50% won

NIFTY closed below its open+₹60,369124 trades52% won

Day of the week

Monday−₹46,01048 trades42% won

Tuesday+₹15,10447 trades57% won

Wednesday+₹8,43451 trades51% won

Thursday−₹14,56747 trades51% won

Friday+₹35,04949 trades53% won

How the entry day opened

Gap up of 0.4% or more−₹31,60138 trades47% won

Flat open+₹24,464166 trades54% won

Gap down of 0.4% or more−₹3,17239 trades41% won

Expiry day (NIFTY weekly)

Expiry day+₹5,48451 trades55% won

Other days−₹15,794192 trades49% won

India VIX the evening before

VIX below 11.5 (calm)+₹6,17666 trades55% won

VIX 11.5-14.5 (normal)−₹9,251109 trades52% won

VIX above 14.5 (nervous)−₹7,23568 trades44% won

The same trades, split by the market conditions around each entry, before costs.

About this strategy

From 09:15 to 09:30, record the exchange high and low of near-month NIFTY futures. That is the opening range.
From 09:30 until 14:30, watch every tick. The first tick above the range high buys one lot; the first tick below the range low sells one lot.
Only the first break counts. Once one side triggers, the other side is ignored for the day.
Place a stop 0.5% of the entry price against the trade. It fills at the tick that crosses it, which can be a little worse than the level.
There is no target. Anything still open is closed at 15:15.

Why traders use it

The first quarter-hour absorbs overnight news, global cues and opening orders, so its high and low are seen as the levels both sides fought over. A clean break of either edge is read as one side winning, and the trader rides that move for the rest of the day. The rule is easy to see on any chart, needs no indicators, and gives a clear stop, which is why it is a staple of intraday futures trading.

Works best whenDays with a clear directional story from the open, such as a strong global lead or event outcome, where the first break of the range keeps going for hours without a deep pullback to the stop.

Struggles whenChoppy sessions that break one side of the range and then swing back through it, and quiet days with little range, where false breaks are stopped or fade by 15:15. Both groups lost heavily in this test.

The year in plain words

From 1 Oct 2025 to 30 Sep 2026 on NIFTY futures, the default version took 245 trades, won almost exactly half (50%) and lost ₹25,832 before costs, a profit factor of 0.97. The average win (₹6,098) and average loss (₹6,360) were close, so the breakouts showed no real edge. 171 trades ran to the 15:15 exit and 74 were stopped out. October made ₹32,792, but May lost ₹26,452 and the drawdown reached ₹1.03 lakh. After ₹20 per order and bid-ask slippage the loss grows to ₹55,786.

What the settings do

Or minutesHow long the opening range lasts after 09:15. A longer range gives wider levels that break less often but with more conviction; a shorter one triggers earlier and more often.Stop %The stop distance as a percentage of entry. A tighter stop cuts losers quickly but is hit more often by normal noise; a wider one survives pullbacks but loses more when hit.Entry untilThe last time a breakout can open a trade. Late breaks leave little time to run before the square-off.Exit timeWhen any open trade is squared off. The default 15:15 keeps it clear of the closing minutes.

Risks

A one-lot NIFTY futures position moves quickly; the largest single loss was ₹10,207.
Stops fill at the next traded price, so on gaps or spikes the loss can exceed 0.5%.
With roughly half the trades winning and similar win and loss sizes, results swing between months on luck.
Breakout edges found in one year often fade in the next.

Who it suits

Traders who want a simple, rules-only intraday futures system with one decision a day, have margin for a NIFTY lot, and are comfortable with long stretches where the system gives back what it made.

Questions traders ask

What is the 15-minute opening range breakout strategy?

You note the high and low of the first 15 minutes of trading, 09:15 to 09:30, and trade the first break of either level: buy above the high, sell below the low. A stop limits the loss and the trade is closed before the end of the day.

Is the opening range breakout profitable on NIFTY?

In this backtest from 1 Oct 2025 to 30 Sep 2026 it lost ₹25,832 before costs and ₹55,786 after ₹20 per order and bid-ask slippage, with a maximum drawdown of ₹1.03 lakh before costs. Wins and losses were nearly balanced. Past results do not guarantee future results.

Why is only the first breakout taken?

Taking both sides would turn a failed break into a second, opposite trade on the same day, doubling the costs on choppy sessions. This version commits to whichever side breaks first and accepts the stop if it fails.

Does the trade enter on a candle close or on a tick?

On a tick. The first futures trade strictly beyond the range high or low triggers the entry, filled at that trade's price. There is no wait for a candle to close beyond the level.

Terms used here

Opening range breakout (ORB)Breakout Futures Stop loss (SL)Intraday vs positional Long and short Before costs / after taxes / after all costs Max drawdown Profit factor Win rate

Before you rely on it

ADAPTED FOR TODAY'S NSE RULESSource assumes the 15:30 close; the 15:15 square-off is kept and is valid under the 15:40 close too. NIFTY near-month futures, sized in lots.

WATCH OUTsingle-year, cost-free tests; ORB edges are unstable across years.

WHERE THE RULES WERE UNCLEAR · OUR CHOICES"Crossed" = a tick trading through the level (not a bar close beyond it). The spec suggests "level + 1 tick" fills; we fill at the actual tick that broke the level (usually a little beyond it). ENTRY_UNTIL (14:30) is ours - the base source has no entry cut-off, the source variant uses 14:30.

Also known asORB 15opening range breakout 9:15-9:30first 15 min high low breakoutfirst hour high low breakoutfirst 15 minute candle breakout

Backtests run on historical NSE data with fills at the last traded price. "Before costs" excludes brokerage, taxes and slippage. Quantsapp is not recommending any strategy; it is just a backtesting utility. Past results are not a promise of future returns.