I was going through this thread. I had tried to see the applicability of this set up couple of years back. I remember it seemed the location of the event in trend, volumes before and the day of event as well as what happened next day seem to be relevant. In all significance got diluted and bit muddied.
I had test run presence of this event in recent days in my system this is the list I have come through. Open Gap is 0.5 % from high or low of previous day.
Any computing error is regretted .
One can run through this list and share findings -
ANDHRABANK 3/15/2013 GAP WATCH DAILY Gap High, Open Day
CHAMBLFERT 3/15/2013 GAP WATCH DAILY Gap High, Open Day
HINDALCO 3/15/2013 GAP WATCH DAILY Gap High, Open Day
IVRCLINFRA 3/15/2013 GAP WATCH DAILY Gap High, Open Day
NATIONALUM 3/15/2013 GAP WATCH DAILY Gap Low, Open Day
PUNJLLOYD 3/15/2013 GAP WATCH DAILY Gap High, Open Day
IDBI 3/14/2013 GAP WATCH DAILY Gap High, Open Day
IFCI 3/14/2013 GAP WATCH DAILY Gap Low, Open Day
JSWENERGY 3/14/2013 GAP WATCH DAILY Gap Low, Open Day
NHPC 3/14/2013 GAP WATCH DAILY Gap High, Open Day
SINTEX 3/14/2013 GAP WATCH DAILY Gap High, Open Day
INFY 3/13/2013 GAP WATCH DAILY Gap Low, Open Day
NATIONALUM 3/13/2013 GAP WATCH DAILY Gap High, Open Day
TATAMTRDVR 3/13/2013 GAP WATCH DAILY Gap Low, Open Day
VIJAYABANK 3/13/2013 GAP WATCH DAILY Gap Low, Open Day
ADANIPORTS 3/12/2013 GAP WATCH DAILY Gap Low, Open Day
IDEA 3/12/2013 GAP WATCH DAILY Gap High, Open Day
MMTC 3/12/2013 GAP WATCH DAILY Gap Low, Open Day
RENUKA 3/12/2013 GAP WATCH DAILY Gap High, Open Day
UNITECH 3/12/2013 GAP WATCH DAILY Gap Low, Open Day
CIPLA 3/11/2013 GAP WATCH DAILY Gap High, Open Day
CUMMINSIND 3/11/2013 GAP WATCH DAILY Gap High, Open Day
ENGINERSIN 3/11/2013 GAP WATCH DAILY Gap High, Open Day
GODREJIND 3/11/2013 GAP WATCH DAILY Gap High, Open Day
HAVELLS 3/11/2013 GAP WATCH DAILY Gap High, Open Day
IFCI 3/11/2013 GAP WATCH DAILY Gap Low, Open Day
INDIACEM 3/11/2013 GAP WATCH DAILY Gap Low, Open Day
L&TFH 3/11/2013 GAP WATCH DAILY Gap Low, Open Day
LITL 3/11/2013 GAP WATCH DAILY Gap High, Open Day
SINTEX 3/11/2013 GAP WATCH DAILY Gap High, Open Day
WELCORP 3/11/2013 GAP WATCH DAILY Gap High, Open Day
BHARTIARTL 3/8/2013 GAP WATCH DAILY Gap High, Open Day
CROMPGREAV 3/8/2013 GAP WATCH DAILY Gap High, Open Day
JPPOWER 3/8/2013 GAP WATCH DAILY Gap High, Open Day
SUNTV 3/8/2013 GAP WATCH DAILY Gap High, Open Day
APOLLOTYRE 3/7/2013 GAP WATCH DAILY Gap Low, Open Day
BANKINDIA 3/7/2013 GAP WATCH DAILY Gap High, Open Day
DABUR 3/7/2013 GAP WATCH DAILY Gap Low, Open Day
JISLJALEQS 3/7/2013 GAP WATCH DAILY Gap Low, Open Day
MCX 3/7/2013 GAP WATCH DAILY Gap Low, Open Day
OIL 3/7/2013 GAP WATCH DAILY Gap High, Open Day
PFC 3/7/2013 GAP WATCH DAILY Gap High, Open Day
UNIPHOS 3/7/2013 GAP WATCH DAILY Gap High, Open Day
ABB 3/6/2013 GAP WATCH DAILY Gap High, Open Day
BPCL 3/6/2013 GAP WATCH DAILY Gap High, Open Day
CANBK 3/6/2013 GAP WATCH DAILY Gap High, Open Day
CHAMBLFERT 3/6/2013 GAP WATCH DAILY Gap High, Open Day
COLPAL 3/6/2013 GAP WATCH DAILY Gap High, Open Day
DISHTV 3/6/2013 GAP WATCH DAILY Gap High, Open Day
FINANTECH 3/6/2013 GAP WATCH DAILY Gap High, Open Day
GODREJCP 3/6/2013 GAP WATCH DAILY Gap High, Open Day
HEXAWARE 3/6/2013 GAP WATCH DAILY Gap High, Open Day
HINDALCO 3/6/2013 GAP WATCH DAILY Gap High, Open Day
ICICIBANK 3/6/2013 GAP WATCH DAILY Gap High, Open Day
IDBI 3/6/2013 GAP WATCH DAILY Gap High, Open Day
JPASSOCIAT 3/6/2013 GAP WATCH DAILY Gap High, Open Day
JSWENERGY 3/6/2013 GAP WATCH DAILY Gap High, Open Day
JUBLFOOD 3/6/2013 GAP WATCH DAILY Gap High, Open Day
L&TFH 3/6/2013 GAP WATCH DAILY Gap High, Open Day
ORIENTBANK 3/6/2013 GAP WATCH DAILY Gap High, Open Day
RELCAPITAL 3/6/2013 GAP WATCH DAILY Gap High, Open Day
SINTEX 3/6/2013 GAP WATCH DAILY Gap High, Open Day
SUNTV 3/6/2013 GAP WATCH DAILY Gap High, Open Day
UBL 3/6/2013 GAP WATCH DAILY Gap High, Open Day
UCOBANK 3/6/2013 GAP WATCH DAILY Gap High, Open Day
UNIONBANK 3/6/2013 GAP WATCH DAILY Gap High, Open Day
VIJAYABANK 3/6/2013 GAP WATCH DAILY Gap High, Open Day
IOB 3/5/2013 GAP WATCH DAILY Gap High, Open Day
LICHSGFIN 3/5/2013 GAP WATCH DAILY Gap Low, Open Day
DABUR 3/4/2013 GAP WATCH DAILY Gap Low, Open Day
FEDERALBNK 3/4/2013 GAP WATCH DAILY Gap Low, Open Day
NMDC 3/4/2013 GAP WATCH DAILY Gap Low, Open Day
SATYAMCOMP 3/4/2013 GAP WATCH DAILY Gap High, Open Day
SESAGOA 3/4/2013 GAP WATCH DAILY Gap Low, Open Day
VIJAYABANK 3/4/2013 GAP WATCH DAILY Gap Low, Open Day
ASHOKLEY 3/1/2013 GAP WATCH DAILY Gap Low, Open Day
HDIL 3/1/2013 GAP WATCH DAILY Gap Low, Open Day
MOTHERSUMI 3/1/2013 GAP WATCH DAILY Gap Low, Open Day
MPHASIS 3/1/2013 GAP WATCH DAILY Gap Low, Open Day
NTPC 3/1/2013 GAP WATCH DAILY Gap Low, Open Day
WELCORP 3/1/2013 GAP WATCH DAILY Gap Low, Open Day
BANKINDIA 2/28/2013 GAP WATCH DAILY Gap High, Open Day
BHEL 2/28/2013 GAP WATCH DAILY Gap High, Open Day
DISHTV 2/28/2013 GAP WATCH DAILY Gap High, Open Day
HINDZINC 2/28/2013 GAP WATCH DAILY Gap High, Open Day
IOB 2/28/2013 GAP WATCH DAILY Gap High, Open Day
IVRCLINFRA 2/28/2013 GAP WATCH DAILY Gap High, Open Day
JPASSOCIAT 2/28/2013 GAP WATCH DAILY Gap High, Open Day
JSWENERGY 2/28/2013 GAP WATCH DAILY Gap High, Open Day
L&TFH 2/28/2013 GAP WATCH DAILY Gap High, Open Day
LT 2/28/2013 GAP WATCH DAILY Gap High, Open Day
MCLEODRUSS 2/28/2013 GAP WATCH DAILY Gap High, Open Day
RENUKA 2/28/2013 GAP WATCH DAILY Gap High, Open Day
SESAGOA 2/28/2013 GAP WATCH DAILY Gap High, Open Day
STER 2/28/2013 GAP WATCH DAILY Gap High, Open Day
TATACOMM 2/28/2013 GAP WATCH DAILY Gap High, Open Day
TATAMOTORS 2/28/2013 GAP WATCH DAILY Gap High, Open Day
TATAMTRDVR 2/28/2013 GAP WATCH DAILY Gap High, Open Day
ENGINERSIN 2/27/2013 GAP WATCH DAILY Gap Low, Open Day
EXIDEIND 2/27/2013 GAP WATCH DAILY Gap Low, Open Day
MMTC 2/27/2013 GAP WATCH DAILY Gap High, Open Day
SESAGOA 2/27/2013 GAP WATCH DAILY Gap High, Open Day
ABIRLANUVO 2/26/2013 GAP WATCH DAILY Gap Low, Open Day
ASHOKLEY 2/26/2013 GAP WATCH DAILY Gap Low, Open Day
BIOCON 2/26/2013 GAP WATCH DAILY Gap Low, Open Day
HDIL 2/26/2013 GAP WATCH DAILY Gap Low, Open Day
IOB 2/26/2013 GAP WATCH DAILY Gap High, Open Day
L&TFH 2/26/2013 GAP WATCH DAILY Gap High, Open Day
RANBAXY 2/26/2013 GAP WATCH DAILY Gap High, Open Day
IDFC 2/25/2013 GAP WATCH DAILY Gap High, Open Day
INFY 2/25/2013 GAP WATCH DAILY Gap High, Open Day
L&TFH 2/25/2013 GAP WATCH DAILY Gap High, Open Day
LICHSGFIN 2/25/2013 GAP WATCH DAILY Gap High, Open Day
NATIONALUM 2/25/2013 GAP WATCH DAILY Gap Low, Open Day
RANBAXY 2/25/2013 GAP WATCH DAILY Gap High, Open Day
RELCAPITAL 2/25/2013 GAP WATCH DAILY Gap High, Open Day
SATYAMCOMP 2/25/2013 GAP WATCH DAILY Gap High, Open Day
SRTRANSFIN 2/25/2013 GAP WATCH DAILY Gap High, Open Day
UBL 2/25/2013 GAP WATCH DAILY Gap Low, Open Day
UNITECH 2/25/2013 GAP WATCH DAILY Gap High, Open Day
ASHOKLEY 2/22/2013 GAP WATCH DAILY Gap Low, Open Day
CASTROL 2/22/2013 GAP WATCH DAILY Gap High, Open Day
CENTURYTEX 2/22/2013 GAP WATCH DAILY Gap Low, Open Day
DIVISLAB 2/22/2013 GAP WATCH DAILY Gap High, Open Day
IVRCLINFRA 2/22/2013 GAP WATCH DAILY Gap Low, Open Day
PTC 2/22/2013 GAP WATCH DAILY Gap Low, Open Day
ADANIENT 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
AXISBANK 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
BATAINDIA 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
BHEL 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
BIOCON 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
CENTURYTEX 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
DISHTV 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
FEDERALBNK 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
HINDALCO 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
ICICIBANK 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
IDFC 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
JPASSOCIAT 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
LT 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
MCX 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
ORIENTBANK 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
RCOM 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
RELCAPITAL 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
RELINFRA 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
SESAGOA 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
SRTRANSFIN 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
SUNTV 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
TATAGLOBAL 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
TATASTEEL 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
UNITECH 2/21/2013 GAP WATCH DAILY Gap Low, Open Day
APOLLOTYRE 2/20/2013 GAP WATCH DAILY Gap High, Open Day
BIOCON 2/20/2013 GAP WATCH DAILY Gap High, Open Day
COLPAL 2/20/2013 GAP WATCH DAILY Gap High, Open Day
IFCI 2/20/2013 GAP WATCH DAILY Gap High, Open Day
INDIACEM 2/20/2013 GAP WATCH DAILY Gap Low, Open Day
IOB 2/20/2013 GAP WATCH DAILY Gap High, Open Day
IOC 2/20/2013 GAP WATCH DAILY Gap High, Open Day
JSWENERGY 2/20/2013 GAP WATCH DAILY Gap High, Open Day
LITL 2/20/2013 GAP WATCH DAILY Gap High, Open Day
M&M 2/20/2013 GAP WATCH DAILY Gap High, Open Day
RAYMOND 2/20/2013 GAP WATCH DAILY Gap High, Open Day
TATAGLOBAL 2/20/2013 GAP WATCH DAILY Gap High, Open Day
ABB 2/19/2013 GAP WATCH DAILY Gap High, Open Day
BANKBARODA 2/19/2013 GAP WATCH DAILY Gap Low, Open Day
BANKINDIA 2/19/2013 GAP WATCH DAILY Gap Low, Open Day
CAIRN 2/19/2013 GAP WATCH DAILY Gap High, Open Day
COLPAL 2/19/2013 GAP WATCH DAILY Gap High, Open Day
DISHTV 2/19/2013 GAP WATCH DAILY Gap High, Open Day
IVRCLINFRA 2/19/2013 GAP WATCH DAILY Gap High, Open Day
ADANIPOWER 2/18/2013 GAP WATCH DAILY Gap High, Open Day
GVKPIL 2/18/2013 GAP WATCH DAILY Gap High, Open Day
IFCI 2/18/2013 GAP WATCH DAILY Gap High, Open Day
IOC 2/18/2013 GAP WATCH DAILY Gap High, Open Day
OIL 2/18/2013 GAP WATCH DAILY Gap High, Open Day
PUNJLLOYD 2/18/2013 GAP WATCH DAILY Gap High, Open Day
TATAGLOBAL 2/18/2013 GAP WATCH DAILY Gap High, Open Day
BHEL 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
DLF 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
MCLEODRUSS 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
SAIL 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
SUZLON 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
TATAMOTORS 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
TATAMTRDVR 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
UBL 2/15/2013 GAP WATCH DAILY Gap High, Open Day
UNIPHOS 2/15/2013 GAP WATCH DAILY Gap Low, Open Day
COALINDIA 2/14/2013 GAP WATCH DAILY Gap High, Open Day
IOC 2/14/2013 GAP WATCH DAILY Gap High, Open Day
MARUTI 2/14/2013 GAP WATCH DAILY Gap Low, Open Day
SRTRANSFIN 2/14/2013 GAP WATCH DAILY Gap High, Open Day
TATASTEEL 2/14/2013 GAP WATCH DAILY Gap Low, Open Day
UNITECH 2/14/2013 GAP WATCH DAILY Gap Low, Open Day
DIVISLAB 2/13/2013 GAP WATCH DAILY Gap High, Open Day
HINDZINC 2/13/2013 GAP WATCH DAILY Gap High, Open Day
IRB 2/13/2013 GAP WATCH DAILY Gap High, Open Day
MMTC 2/13/2013 GAP WATCH DAILY Gap Low, Open Day
MOTHERSUMI 2/13/2013 GAP WATCH DAILY Gap High, Open Day
NMDC 2/13/2013 GAP WATCH DAILY Gap High, Open Day
TATAMOTORS 2/13/2013 GAP WATCH DAILY Gap High, Open Day
TATAMTRDVR 2/13/2013 GAP WATCH DAILY Gap High, Open Day
DRREDDY 2/12/2013 GAP WATCH DAILY Gap High, Open Day
GVKPIL 2/12/2013 GAP WATCH DAILY Gap Low, Open Day
INFY 2/12/2013 GAP WATCH DAILY Gap Low, Open Day
IOB 2/12/2013 GAP WATCH DAILY Gap Low, Open Day
TATAMOTORS 2/12/2013 GAP WATCH DAILY Gap High, Open Day
UBL 2/12/2013 GAP WATCH DAILY Gap Low, Open Day
UNITECH 2/12/2013 GAP WATCH DAILY Gap Low, Open Day
HEXAWARE 2/11/2013 GAP WATCH DAILY Gap Low, Open Day
IGL 2/11/2013 GAP WATCH DAILY Gap High, Open Day
JPPOWER 2/11/2013 GAP WATCH DAILY Gap High, Open Day
MCLEODRUSS 2/11/2013 GAP WATCH DAILY Gap High, Open Day
TATACHEM 2/11/2013 GAP WATCH DAILY Gap Low, Open Day
TATACOMM 2/11/2013 GAP WATCH DAILY Gap High, Open Day
VIJAYABANK 2/11/2013 GAP WATCH DAILY Gap Low, Open Day
AMBUJACEM 2/8/2013 GAP WATCH DAILY Gap Low, Open Day
ANDHRABANK 2/8/2013 GAP WATCH DAILY Gap Low, Open Day
INDIACEM 2/8/2013 GAP WATCH DAILY Gap Low, Open Day
CIPLA 2/7/2013 GAP WATCH DAILY Gap Low, Open Day
HINDZINC 2/7/2013 GAP WATCH DAILY Gap Low, Open Day
NTPC 2/7/2013 GAP WATCH DAILY Gap Low, Open Day
DIVISLAB 2/6/2013 GAP WATCH DAILY Gap High, Open Day
HAVELLS 2/6/2013 GAP WATCH DAILY Gap Low, Open Day
HINDCOPPER 2/6/2013 GAP WATCH DAILY Gap High, Open Day
IDFC 2/6/2013 GAP WATCH DAILY Gap High, Open Day
JPPOWER 2/6/2013 GAP WATCH DAILY Gap High, Open Day
MCLEODRUSS 2/6/2013 GAP WATCH DAILY Gap High, Open Day
NHPC 2/6/2013 GAP WATCH DAILY Gap High, Open Day
PUNJLLOYD 2/6/2013 GAP WATCH DAILY Gap High, Open Day
RENUKA 2/6/2013 GAP WATCH DAILY Gap High, Open Day
ACC 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
AMBUJACEM 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
ANDHRABANK 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
BANKBARODA 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
BHEL 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
HCLTECH 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
HDFCBANK 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
HINDALCO 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
ICICIBANK 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
IDBI 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
JISLJALEQS 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
JPASSOCIAT 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
JPINFRATEC 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
NTPC 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
RANBAXY 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
RELINFRA 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
RENUKA 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
SESAGOA 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
SUNPHARMA 2/5/2013 GAP WATCH DAILY Gap High, Open Day
TATAPOWER 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
TATASTEEL 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
UCOBANK 2/5/2013 GAP WATCH DAILY Gap Low, Open Day
IFCI 2/4/2013 GAP WATCH DAILY Gap Low, Open Day
IOB 2/4/2013 GAP WATCH DAILY Gap High, Open Day
NATIONALUM 2/4/2013 GAP WATCH DAILY Gap High, Open Day
PFC 2/4/2013 GAP WATCH DAILY Gap Low, Open Day
RANBAXY 2/4/2013 GAP WATCH DAILY Gap Low, Open Day
CUMMINSIND 2/1/2013 GAP WATCH DAILY Gap High, Open Day
DABUR 2/1/2013 GAP WATCH DAILY Gap High, Open Day
HINDPETRO 2/1/2013 GAP WATCH DAILY Gap Low, Open Day
IVRCLINFRA 2/1/2013 GAP WATCH DAILY Gap High, Open Day
L&TFH 2/1/2013 GAP WATCH DAILY Gap High, Open Day