VJAY,
This month gap ups and gap downs were bad for 30 min swing trades because we were in a large sideways range and the market was reacting to various overseas inputs.
But in such circumstances also I have found that the market shows its hand earlier day before the gap. One technique which I have found useful in trading such period is End of Day exit. Suppose you are long and the market takes out 2-3 pivot highs....but in the end while closing, it closes below the last pivot high which it broke. This shows that market is unable to sustain above that Pivot high so sell your position there, and take position again next day when market opens. I have found that it saves us from many gap up /gap down situations. The same holds for short positions also.
See if the above helps.
Smart_trade