The strategy is to buy all 5 Stocks/Index Futures at 9:15 at the opening rates and put a sale @ 2% higher than the cost. Whichever stock/index future doesn't get sold - we hold it without SL for the next trading day.
If on a particular trading day, only 3 Stocks/Index Futures are sold @ 2%+ and we are holding 2 stock/index futures, then the next day we will buy only 3 fresh Stocks/Index Futures and put the sell orders for all the 5 @ 2% higher than cost.
This strategy has been working well on Zerodha because Zerodha has a basket order product with GTT orders that are valid for a year – this automates the whole process to a very large extent and only the process of creating the basket and executing it at 9:15 remains manual.
Other brokers may also have similar products, but all those who have been testing this strategy, including yours truly, have done it on Zerodha with good to great results.
This is a no-brainer way to earn small (we keep only a 2% spread) but sure-shot profits & since we are only trading in the Universe of INDEX FUTURES & NIFTY 50, NSE SMALLCAP 100, BANKNIFTY, FINNIFTY, and F&O Stocks, the chances of being stuck in a dud/non-investment grade stock are ZERO.
The selection of the 5 Stocks/Index Futures is done by a proprietary stock screen developed by me over the last ~5 years.