If price discovery (open) was perfect, the open will not be equal to high and open will not be equal to Low. (abnormal open)
While yesterday there were 9 cases with abnormal open, today there is only one (LT on NSE). I do now know about BSE. Are people maturing to place proper orders in pre-open period? Time only will tell.
May be some special techniques have to be developed to trade during those initial period. This is a very risky proposition, but risks and regards go together.
And further, when all the risks are removed ( assuming that the pre-open session meets it's objective), the remaining session session is less volatile.
Considering these to aspects,
1) Gap up/down trading techniques will fade away.
2) The day's market remains choppy and cyclic TA indicators will find more utility.
3) Intra-day trading as a whole, becomes less rewarding.
4) Some Intraday traders may shift to Futures trading.
These are just hypothetical musings and other members may also share their opinions.
Regards.
murthymsr