Trading Gaps using previous day setup

Previous Day Doji If previous day is a Doji and a Gap happens, trade in the direction of gap.

Previous Day Bullish If previous day is Bullish and Gap Up happens. Profit booking will happen and look for short opportunuties. If previous day is Bullish and Gap Down happens, Bulls will get trapped and they will try to exit. Look for short opportunitities. If previous day is Bullish and flat opening, then market will likely continue. Take long opportunities. Previous Day Bearish If previous day is Bearish and Gap Down happens. Profit booking will happen and look for long opportunuties. If previous day is Bearish and Gap Up happens, Bears will get trapped and they will try to exit. Look for long opportunitities. If previous day is Bearish and flat opening, then market will likely continue. Take short opportunities.

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Tata Steel Long Products Ltd - A multibagger idea for long term

Tata Steel Long Products Ltd

Current price - 730.

It may reach up to 5000 in a time duration of 5 years.

P/E Expansion
Trading at just a p/e of 3. With just p/e expansion to 15, price will go to 3500 and the rest will be taken care by profits of companies.

Company has took a loan of 1400 crore and has setup machinery of 3,560 Crore. With Annual profits of approximate 350 Crore, this will get cleared in 3 years.

Future

The Company is exploring possibilities to reach the name plate capacity of 1 million tonne, coupled with investment in downstream and finishing facilities for balancing the capacity and meeting customer requirements.

Disclaimer - Please do your own research before investing. Not a SEBI registered analyst.

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Biggest Wealth creator and destroyer in the last 20 years in the indian stock market

 

Biggest Wealth Creator

• Rs 10,000 invested in Eicher Motors in 1992 is worth today - Rs 80 lacs
• Rs 10,000 invested in Asian Paints in 1986 is worth today at Rs 90 lacs
• Rs 10,000 invested in Dr Reddy’s Labs in 1986 is worth today at mindboggling Rs 10 crores.
• Rs 10,000 invested in Shree Cement in 1990 is worth today at Rs 2.90 crores.
• Rs 10,000 invested in Torrent Pharma in 2008 is worth today at Rs 2.19 lacs (approx) (that’s more than 21 times in 9 years)
• Rs 10,000 invested in Granules India in 2008 is worth today at Rs 2.97 lacs (almost 30 times in 9 years) (Stock was at Rs 28.20 back in 2008 and there was split in face value from 10 to 1 in 2015)
• Hold your breath for this one. Rs 10,000 invested in Ajanta Pharma in 2008 would be worth today at Rs 24.42 lacs. (More than 240 times in 9 years)

Barring these companies there are many companies which have grown tremendously in the last 20–30 years. We all have read about the investing returns from Infosys and Wipro over the last 3 decades.

There are companies like Bajaj Finance, BPCL, Lupin, Natco Pharma and HPCL which have delivered 50–60x over a period of last 20 years.

Biggest Wealth Destroyer

The BSE Sensex has gone up at a CAGR of 17% over the past five years(16-21), generating over 110% returns. Many stocks fell by more than 95% in the past five years.
If you had invested ₹1 lakh in these stocks in 2016, you would now be left with a mere 2000.

Retail Investors Love yes bank

It happens every few years, such big companies gets eroded off the market. These type of capital erosion happened in the past also. Do a periodic check of your portfolio. Don't gamble. Invest 95% of your money via a mutual fund manager. All of these above companies have a very large holding by public now because we think we are buying cheap.

The stocks like DLF, Reliance communications, Suzlon, JP associates and Unitech have lost more than 90% from 2008 to 2015.

There is a very good chance that we might end up choosing one of the above stocks in our portfolio and end up keeping it because of various biases and fallacies in our mind. It's always good to have a diversified portfolio of around 10 Stocks. If you have around 30 stocks, better go with a MF route.

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The success story of Rakesh Jhunjhunwala from 5,000Rs to 50,000CR. (10,00,000 times)

Rakesh Ji as a child was always curious about stock movement. He used to ask his father why that stock went up or down. As a child also, he was very curious and used to look at balance sheet of companies.

He wanted to directly jump into stock market after 12. His father advised him to atleast do CA in case he fails into the market, he will have a backup.
 

1985
Wealth - 5000Rs
After completing CA, Rakesh Ji Came to Bombay with 5000Rs.

Now, at this point, he asked his brother for help to get him some money to trade. At that point in time borrowing used to happen at around 12 percent. 

He convinced 1 client who said, they will give him money at 18 percent. They promised him 2.5L with initial money of 1 lakh. As a mortgage, RakeshJi had given them the securities and his convicing words.

Wealth - 12.5L (Borrowed)

With that money, he made some success and he got his completed 2.5L. And another client gave him 10L to trade. With 12.5L, he made 30L within a year by trading. He paid a tax of 4L that year.

Wealth - 30L - (12.5L borrowed + 4 L tax) = 11 L

Then with that money, He bought SESA Goa at rate of 25 which became 65 in 4 months. His money went up to 30L with that trade.

Wealth - 30L

Then he bought Tata power at 150, which went up to 1000. That 30L became around 2-3 Crore with the help of that trade.

Wealth - 2-3 Crore.

VP singh Budget (1986)

Before the budget markets were very down, but he was very bullish. There used to be evening session on budget day 6-9PM. He had 3 Crore worth of stocks at 6 PM which became 30 Crore by 9PM. (Not sure of stock details. May be was trading F&O for this rise)

Wealth - 30 Crore.

1990s -1992 (Harshad Mehta)

His friend bought ACC at 100 and sold at 10100.  This stock rights issue was not even fully subscribed 3 years back. It was so crazy.

He made some success investment in Tata tea when it was at a P/E of 90 during Harshad Mehta Scam.  But, it was a successful bet for him as it was fundamentally strong stock in his opinion.

He became very bearish on markets in 1992 as markets were very highly valued. He made a lot of money during that time by shorting stocks.

He doubled his wealth in that bearish period.
Wealth - 60 Crore.

Post Scam

Year 1993 - SBI came with Ipo price of 90, got listed at 160. He shorted it a 160, Next day it went up to 240. Eventually it came down and he made money.

He bought United Spirits at 40 which became 24000 in 17 years. Due to split the price is different on exchange.

Over years, he made a successful bet on Titan and many other stocks.

Analysis - He initially borrowed money and traded on that. But, he was sure of his skill as he was looking at companies since he was a child. He was not a beginner and he was a qualified CA. He returned the money as soon as he can. We should not trade with borrowed money on reading his story.

He is both a trader and investor.

His trading style - He trades on the basis of momentum and keeps pyramiding (that is keep buying) when the stock moves in his favour. He never averages while trading and take a hit when the stock against him.
He never fixes a target as we never know till what level stock will go. He only gets out if it looks way overvalued and far stretched.  We can trade in any time frame for trading as per his view. 

He has made money in trading in certain bullish periods -  89-92, 2003-07, 2009-11.  

While investing, he does averaging sometimes with buying stocks in a staggered manner. If only the stock is going down and not the overall market.

If the overall market is looking bearish, he will lighten his position in staggered manner and sit on cash until the direction changes.

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Is it better to stay invested in market or buying when there is a dip using the accumulated amount ?

Can we make more money by investing only when the market falls by more than 5 percent ? 

Idea sounds good until we take a look at the numbers. But, don't forget we might also miss some good market runs if we don't invest. 

I tested the monthly data from Jan 2009 to Jan 2021.  Making investment at the end of month, we acccumulated 10191 Niftybees whose value at the end of Jan 2021 was 14.8 Lakh. 
Total amount invested was 7.19 Lakhs.

But, if we keep on accumulating the money and invest only when the market falls by more than 5 percent. We had 9260 Niftybees whose value is 13.52 Lakhs. 

If we keep SIP on, we will make 9.46 percent more returns in NIFTYBEES.

I have not considered any returns on the accumulated money that is lying idle in the bank. If we consider that too, more or less returns will be same. 

Excel Numbers 

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Can I make money by shorting Nifty Calls and buying Niftybees ?

This idea sounds great to pocket the premium by selling nifty option calls and saving ourselves by buying equivalent Niftybees.

Lets see the actual returns that we will make.

As of today, Nifty is at 15163. Lets say we try to take premium out of April call.
We will short NIfty 14000 CE which is at 1419, we will get 14000 + 1419 - 15163 = 256 points out of this. One lot is of 75 size, so we will pocket 256 * 75 = 19200 Rs in 2.5 months.

But, we need to save ourselves from losses, so we will buy equivalent niftybees.
(15163 * 75) which is Rs. 1137225.

Plus, we will margin for shorting nifty call which is approx 26200 as of now.

Total money required to pocket premium = 1137225 + 26200 = 1399225 ~ 14 Lakh.

You will make 19200 on 14 Lakh which is 1.3 percent.

You are making 1.3 percent in 2.5 months. In an year, you will make approx 6.24 percent. 

Note - We can try this checking with far OTM calls but we need to contain the risk too that's why I went with Deep ITM call.

I think its better to buy plain niftybees which gave 12 percent CAGR in last 10 years or 16% CAGR since inception. 

https://www.moneycontrol.com/mutual-funds/nav/nippon-india-etf-nifty-bees/MBM001

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How to check institutional holding of stocks

This link will give you the list of stocks with highest FII holding.

https://trendlyne.com/stock-screeners/shareholding/FII/increase/Q2-2017/index/BSEAllCap/s-p-bse-allcap/

You can sort them on the basis of change in the holding in the recent quarter.  You can expect good returns from the stocks which has good FII holding.

Use this for DII.

https://trendlyne.com/stock-screeners/shareholding/Institutions/increase/now/index/BSE500/bse-500/

Stocks with good FII holding will also perform well.

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Why trade breakouts?

Why trade breakouts?

At first, when buying breakouts it looks contradictory to the idea of buying low and selling high. But, it is still advisable to buy breakouts because it gets you on the right side of the market. We should not fight the trend. Markets can remain irrational longer than you can remain solvent.

To improve accuracy on breakouts, we can use the moving averages.

If the prices are above 8EMA, 21 EMA and 8EMA > 21 EMA. Trade breakouts and vice versa for break downs.

Trading 52 week high breakouts is also profitable.

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Analysis of Nifty

Data Tested from 2-Aug-2010 to 29 July 2016.

Is gap up a good buying opportunity?
Among the tested 1503 trading days, Nifty gapped up 761 times.
The total of close-open comes out -26454 points on those 761. It's not a good decision to buy on gap up, we should look for short opportunity.

HISTOGRAM

Bin Frequency
-180 15
-160 3
-140 7
-120 29
-100 24
-80 51
-60 65
-40 115
-20 134
0 891
20 83
40 46
60 19
80 12
100 4
120 2
140 1
160 0
180 0
More 0


Among the tested 1503 trading days, Nifty gapped down 742 times.
The total of open-close comes out -19798 points on those 742 days. It's a good decision to sell on gap down.

HISTOGRAM
Bin Frequency
-180 2
-160 2
-140 7
-120 12
-100 27
-80 47
-60 73
-40 93
-20 126
0 911
20 98
40 58
60 27
80 11
100 6
120 0
140 1
160 0
180 0
More 0

Analysis of nifty from 2-Aug-2010 to 29 July 2016.

(Close - open) and their frequency w.r.t bin.

Simple Histogram
Bin Frequency
-180 15
-160 3
-140 7
-120 30
-100 24
-80 57
-60 76
-40 142
-20 192
0 276
20 206
40 172
60 113
80 84
100 51
120 29
140 13
160 7
180 2
More 2

Fat Tails

High -low and their frequency.
20 0
40 124
60 349
80 340
100 262
120 165
140 84
160 65
180 33
200 15
220 8
240 9
260 5
280 1
300 1
More 2 

Tested Data from 18/9/2007 to 18/11/2016
2279 Trading days

PDH = previous day high
PDL = previous day low.

Nifty crossed the PDH.
1208 days it crossed the PDH. Among those 1208, 691 days it closed above the PDH.
But, in all 1208 days , the sum of close-PDH is 10921.
So, its good to trade the breakout of PDH.

Nifty crossed the PDL.
1083 days it crossed the PD low. Among those, 605 days it closed low.
Sum of PD low-close is 14113. But, we should look for failure too. One day it was -416 points.

It shows if nifty crosses the pdh/pdl it will close in that direction for 55% of the days.

Is it a good idea a buy on gap up days ?

Among 2279 days, nifty gapped up by more than 20 pts. for 472 days.
The sum of close-open for those days is -1445.

Is it a good idea to sell on gap down days ?
Gap down 227 days. Among those 227 days, 116 days open-close was positive.
Sum of open-close for those 227 days is -39.

Does market follow the previous day ?

1068 days market closed on positive side. 516 days followed.
1173 days market closed negative. 626 days followed.

I tried checking if nifty closed more than +40 and +60. Did the next day followed ? Same result only 50% days.

If we see all the figures so far, we came to see that markets are fairly balanced this way.

Simple Stats of Nifty (2007 - 2016)
If Nifty opens within PDR, it has 50% probability of closing within the range
If Nifty opens abv PDH, it has 60% probability of closing abv PDH
If Nifty opens blw PDL, it has 60% probability of closing blw PDL

If Nifty opens above PDC, 60% probability of closing above PDC
If Nifty opens below PDC, 60% probability of closing below PDC

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Trading stocks that open with a gap and do they trend

Markets are random by nature.  We have to look for events where the market will behave in a non random fashion.

Take the stocks which opened with a gap of more than 2%, then wait for 5/15 minutes for the stock to set the opening range. Then, take the trade in the direction which is showing strength.

For analysis purpose, lets start with gap up of more than 2%, does the stock rise? Data tested from 2012.

StockName , Sum of (close-open) %, Sum of abs(close-open)%,  No of trades in 4 years

JPASSOCIAT	-27.32610219	186.49	49
HDIL	6.918107082	112.75	35
ARVIND	-15.62888451	37.44	10
ADANIENT	-5.435449073	54.09	18
HAVELLS	-21.25835332	41.05	9
MARICO	-39.96573965	59.93	21
INDIACEM	-68.85385005	124.15	37
ORIENTBANK	-42.11056829	115.61	36
AUROPHARMA	-46.51498804	91.83	20
ABIRLANUVO	-12.20098535	41.41	16
HINDPETRO	-22.54552241	80.6	29
LTFH	-26.20525764	86.26	35
TORNTPHARM	-65.52778734	95.43	40
BOSCHLTD	-18.62853516	37.35	18
JISLJALEQS	-43.31868274	101.4	28
GMRINFRA	-87.8594496	172.09	61
GAIL	-12.51424082	21.94	12
JUBLFOOD	-4.557456022	22.45	7
SRTRANSFIN	2.299413528	46.95	15
SINTEX	-23.85124559	98.82	37
SIEMENS	-15.55014222	21.18	10
SUNPHARMA	-2.391231081	22.7	14
JUSTDIAL	-15.71188357	50.5	14
ITC	2.886965737	5.11	3
APOLLOHOSP	-37.66990604	38.11	13
POWERGRID	0	0	0
GRASIM	11.04174322	11.19	4
INFY	-2.500189208	38.98	14
IGL	-13.85018987	42.93	14
RPOWER	-18.61653415	39.83	24
BHEL	16.12160525	45.63	20
GODREJCP	-89.51885313	90.26	28
BEML	-14.88913373	58.07	33
PNB	-28.62738614	59.73	18
TATACOMM	-19.49069376	88.32	32
OIL	-52.08247373	53.01	22
NIITTECH	-64.8338293	88.24	29
ALBK	-13.04923915	58.39	24
IDEA	-33.27583111	47.3	17
CROMPGREAV	-49.9852008	71.38	24
IDFCBANK	-9.65067349	9.65	7
TATACHEM	-20.10151924	25.29	13
BANKINDIA	-41.17012134	108.86	36
RCOM	4.287864937	80.79	26
MCDOWELL_N	-5.030194248	94	21
JSWENERGY	-19.23503614	149.36	40
ICICIBANK	8.120235266	39.84	26
TITAN	-17.77907956	59.17	17
IBREALEST	28.64923837	197.22	52
DISHTV	-7.809799645	49.45	21
RELINFRA	17.08722569	44.91	21
ACC	3.485578844	3.49	2
RELCAPITAL	15.13681549	75.17	28
RELIANCE	5.448744172	25.64	13
TATAELXSI	-19.61787874	26.67	13
UPL	3.918800681	5.79	4
RECLTD	14.44721147	41.51	18
AXISBANK	-2.395651934	55.77	28
JETAIRWAYS	-48.34884996	196.7	55
EICHERMOT	-74.99507894	129.14	51
JSWSTEEL	12.25074036	20.77	7
SOUTHBANK	-95.69516029	120.74	35
ASHOKLEY	-101.8843838	168.37	56
CADILAHC	-50.51199764	54.84	18
BANKBARODA	-6.932646783	67.95	21
BAJFINANCE	-40.38318483	78.94	38
ZEEL	-20.52294228	30.8	11
IRB	-34.8279921	91.9	37
TECHM	-45.58843225	69.61	18
ASIANPAINT	-5.630510755	5.63	3
WOCKPHARMA	-72.70258187	154.88	56
SBIN	-13.41877562	57	23
COLPAL	-44.48511644	46.1	14
LUPIN	-26.44000687	29.67	11
GODREJIND	-37.92813947	70.67	19
ADANIPORTS	-20.03265154	69.62	21
ANDHRABANK	-17.37331468	75.96	25
ULTRACEMCO	-8.093124692	31.9	13
IBULHSGFIN	3.853731371	41.68	13
AMBUJACEM	7.75268395	8.37	5
NCC	-92.74904606	310.37	76
FEDERALBNK	-61.58029764	92.88	37
TATAMTRDVR	-13.29062406	53.31	28
AJANTPHARM	-50.48423589	66.21	32
HINDUNILVR	-4.30677195	27.83	7
BHARTIARTL	-2.760943506	41.24	19
NTPC	7.108794797	13.48	6
HEXAWARE	-0.178899116	68.13	28
CANBK	-12.01056846	87.46	28
PFC	2.759165233	85.42	25
CUMMINSIND	-55.84490326	68.18	26
INFRATEL	-40.9635048	70.71	20
SRF	-46.21250814	106.32	38
EXIDEIND	-21.66887638	35.29	13
TATAGLOBAL	-25.69903946	52.64	17
TATAPOWER	-13.91952694	34.76	17
WIPRO	-5.162923704	16.2	10
LT	18.5049291	26.18	13
HCLTECH	-16.32849032	21.52	10
DABUR	-31.31283597	38.9	11
SYNDIBANK	-34.42217561	88.31	31
CASTROLIND	3.103825563	10.8	2
SUNTV	-7.577627704	62.85	20
TCS	-5.647374233	24.04	12
COALINDIA	-17.60770549	23.05	10
YESBANK	19.03962631	109.24	35
KOTAKBANK	-16.81416131	36.62	16
DLF	51.90427002	110.47	40
BEL	-44.58298807	92.13	29
CESC	-16.95623089	35.82	15
TORNTPOWER	-49.25612942	90.26	30
KPIT	-32.02608543	93.03	37
UNIONBANK	-34.17727551	87.42	25
NMDC	-6.231011045	39.84	17
GRANULES	-75.89438033	201.04	55
MM	-6.308605213	11.57	6
CIPLA	-11.26761811	15.09	9
OFSS	-22.42548012	30.39	16
PTC	-6.489572282	80.5	32
HDFC	-12.51945461	27.48	11
CEATLTD	-45.521239	69.88	25
PETRONET	-20.16833721	23.07	11
GLENMARK	-26.93497808	56.51	19
IDBI	-43.48651127	77.21	30
KSCL	-131.629617	209.67	79
ICIL	-731.3678047	1110.89	246
INDUSINDBK	-44.40555381	75.31	27
CAIRN	-21.22236281	57.47	22
BIOCON	-12.68110054	23.31	11
LICHSGFIN	-5.347311302	52.09	21
BHARATFORG	-17.4231582	46.18	20
MCLEODRUSS	-62.04295853	89.38	23
HINDALCO	-16.38579565	47.39	24
CONCOR	-95.64042868	117.35	40
MARUTI	-1.171339638	23.72	8
IOC	-49.4409745	61.85	22
PCJEWELLER	-82.93014342	175.21	47
DCBBANK	3.362272377	44.64	19
BRITANNIA	-21.58679726	45.79	19
PIDILITIND	-43.36076451	50.15	22
HEROMOTOCO	-20.27581526	20.28	8
PAGEIND	-84.75346482	97.97	39
NHPC	-74.29842794	98.13	27
HDFCBANK	-11.14099193	24.33	10
TATAMOTORS	19.41665744	42.91	29
BATAINDIA	-5.230801989	12.75	6
CENTURYTEX	1.969653423	36.08	18
VEDL	3.633897425	49	16
APOLLOTYRE	-50.73160818	59.29	20
DRREDDY	-8.280705509	10.73	6
TATASTEEL	-1.797890652	52.01	22
MRF	-21.95918899	26.92	13
DHFL	21.59590695	52.31	13
AMARAJABAT	-4.439943169	60.91	18
ONGC	3.323130734	47.41	21
MOTHERSUMI	-43.79802951	70.95	32
KTKBANK	-43.05275324	82.55	35
HINDZINC	-54.70236533	68.74	23
STAR	-70.41790671	80.6	21
ADANIPOWER	-56.99759995	113.94	45
BAJAJ_AUTO	-10.34207351	14.3	7
SAIL	1.993593884	47.59	22
TV18BRDCST	-61.1422626	226.33	55
BPCL	2.311829919	54.47	21
MINDTREE	-45.91844294	64.12	28
DIVISLAB	-24.82082949	45.18	15
JINDALSTEL	-23.03375172	95.34	30
UBL	-51.5736475	58.57	18
VOLTAS	-22.43468784	76.88	23
MMFIN	-64.98440681	93.73	30
BHARATFIN	0	0	0
TVSMOTOR	-140.0207785	183.65	50
IFCI	-23.62337616	104.79	37
IDFC	-3.258244886	81.15	27

Total trades : 4255
Total sum of % change(2nd column) : -5031%. Gaps getting filled.
Total sum of abs change : 12570.

2.95% change per trade.

The results look, stocks seem to be trending after a gap up.

Let's take a look from the gap down of more than 2%.

StockName, sum of % Change open -close, Sum of absolute % change open-close, no of trades

JPASSOCIAT	16.2	138.15	39
HDIL	-2.96	161.84	36
ARVIND	-6.44	29.34	12
ADANIENT	72.16	143.45	17
HAVELLS	-18.38	36.78	10
MARICO	-11.42	18.29	10
INDIACEM	-64.62	115.8	32
ORIENTBANK	-2.53	66.61	25
AUROPHARMA	-23.99	55.85	19
ABIRLANUVO	-11.69	51.2	13
HINDPETRO	-30.11	71.26	14.00
LTFH	-13.61	36.1	13
TORNTPHARM	-57.08	90.08	28
BOSCHLTD	-6.75	12.81	5.00
JISLJALEQS	-12.28	81.72	24.00
GMRINFRA	-39.73	114.21	39
GAIL	-7.41	10.16	8
JUBLFOOD	-24.72	35.6	10
SRTRANSFIN	-32.07	75.41	19
SINTEX	-12.97	82.87	23
SIEMENS	-4.12	7.48	4
SUNPHARMA	-5.05	28.73	13.00
JUSTDIAL	-1.02	43.47	14
ITC	-3.41	3.41	2
APOLLOHOSP	-7.38	18.79	7
POWERGRID	-0.35	16.51	4.00
GRASIM	-1.84	7.53	3
INFY	30.27	41.48	13
IGL	19.36	29.16	4
RPOWER	15.21	28.12	9
BHEL	12.52	49.57	13
GODREJCP	-73.45	73.6	12
BEML	-25.02	66.62	29.00
PNB	-5.9	44.52	15
TATACOMM	-15.53	39.11	12
OIL	-4.99	26.61	13
NIITTECH	-55.04	80.99	33
ALBK	-28.98	52.1	15
IDEA	-50.62	63.75	20
CROMPGREAV	-33.62	69.57	20
IDFCBANK	7.53	7.53	3
TATACHEM	-4.15	26.9	10
BANKINDIA	11.92	62.87	22
RCOM	-16.65	71.49	17
MCDOWELL_N	-73.52	94.45	18
JSWENERGY	-63.17	110.63	32.00
ICICIBANK	5.25	22.88	12
TITAN	-17.36	50.7	13
IBREALEST	3.02	101.82	28
DISHTV	-55.98	82.05	23
RELINFRA	3.78	56.11	12
ACC	-17.73	17.73	7
RELCAPITAL	-10.72	54.21	14.00
RELIANCE	5.25	9.67	4
TATAELXSI	-45.87	83.96	21.00
UPL	12.34	18.19	7.00
RECLTD	5.25	48.94	16
AXISBANK	16.94	52.21	19
JETAIRWAYS	-49.46	116.18	31
EICHERMOT	-16.46	43.68	16
JSWSTEEL	-21.74	35.55	9.00
SOUTHBANK	-51.65	52.89	14.00
ASHOKLEY	-113.38	139.88	31
CADILAHC	-14.19	28.52	12
BANKBARODA	-19.2	33.22	14
BAJFINANCE	-45.48	65.37	20
ZEEL	-23.64	31.22	12
IRB	-7.85	88.96	25
TECHM	-17.76	47.19	16
ASIANPAINT	7.40	8.27	6
WOCKPHARMA	-96.04	160.31	51
SBIN	-16.88	39.62	14
COLPAL	-30.54	32.97	10
LUPIN	-34.55	39.57	11
GODREJIND	-27.51	51.15	10.00
ADANIPORTS	-38.8	56.6	17
ANDHRABANK	-9.44	50.66	15
ULTRACEMCO	-40.18	42.18	12
IBULHSGFIN	-6.78	53.94	21.00
AMBUJACEM	-14.61	21.71	11
NCC	-18.15	133.37	35
FEDERALBNK	-9.07	42.56	21
TATAMTRDVR	-19.13	64.98	21
AJANTPHARM	-14.14	60.45	18
HINDUNILVR	-4.81	5.29	3.00
BHARTIARTL	-17.97	34.59	10
NTPC	17.55	20.71	5
HEXAWARE	-38.39	45.86	15
CANBK	8.85	72.95	23
PFC	-5.41	32.09	14
CUMMINSIND	-26.23	26.23	6
INFRATEL	-130.12	164.1	43
SRF	-31.1	92.87	29
EXIDEIND	-31.19	37.67	13.00
TATAGLOBAL	-38.24	39.55	11
TATAPOWER	-24.2	42.94	13
WIPRO	8.29	31.26	15
LT	1.18	21.3	9
HCLTECH	-2.82	30.99	15.00
DABUR	-7.7	18.26	9
SYNDIBANK	-3.3	58.34	20
CASTROLIND	3.89	7.48	2
SUNTV	7.93	95.81	20
TCS	7.06	15.86	10
COALINDIA	-7.23	18.93	12.00
YESBANK	20.01	65.57	17
KOTAKBANK	3.41	17.27	10.00
DLF	22.64	130.85	33
BEL	-33	58.36	20
CESC	9.72	35.97	11.00
TORNTPOWER	-12.88	44.98	13
KPIT	-41.88	128.09	20
UNIONBANK	-7.25	91.61	26
NMDC	-15.32	34.51	18
GRANULES	-47.62	76.22	17
MM	-5.85	19.4	9
CIPLA	10.63	10.63	3.00
OFSS	-13.94	37.18	14
PTC	-48.77	76.29	21.00
HDFC	2.82	9.48	6
CEATLTD	-127.23	149.91	40.00
PETRONET	-17.09	28.58	13.00
GLENMARK	-26.91	35.52	15
IDBI	-21.2	61.05	17
KSCL	-103.22	119.09	31
ICIL	-843.02	952.07	212
INDUSINDBK	3.56	32.62	11
CAIRN	-1.74	55.87	20.00
BIOCON	-15.66	30.77	7
LICHSGFIN	-10.1	32.65	9
BHARATFORG	-12.17	23.03	11
MCLEODRUSS	-34.88	57.19	12
HINDALCO	-26.71	55.35	22
CONCOR	-30.21	50.34	21
MARUTI	3.93	20.72	9.00
IOC	-33.44	46.33	17.00
PCJEWELLER	-9.99	57.56	25
DCBBANK	16.39	28.83	6
BRITANNIA	-47.58	49.86	8
PIDILITIND	-12.76	19.57	11.00
HEROMOTOCO	-8.35	11.47	6
PAGEIND	-31.62	48.33	22.00
NHPC	-54.90	56.13	10.00
HDFCBANK	4.90	5.68	3
TATAMOTORS	0.30	58.11	21.00
BATAINDIA	-28.16	49.27	20
CENTURYTEX	-17.09	53.88	16
VEDL	9.2	67.7	14
APOLLOTYRE	10.25	74.29	14
DRREDDY	-6.25	8.79	5
TATASTEEL	-3.53	46.96	14.00
MRF	-12.71	16.04	6
DHFL	-2.34	65.91	19.00
AMARAJABAT	-62.64	76.35	17
ONGC	-0.02	30.35	15
MOTHERSUMI	-54.38	92.23	24
KTKBANK	-39.68	76.6	16
HINDZINC	-32.86	32.86	15
STAR	-61.71	96.66	19
ADANIPOWER	8.28	67.00	21.00
BAJAJ_AUTO	4.15	9.59	5
SAIL	-6.84	40.34	13.00
TV18BRDCST	-38.97	76.3	29
BPCL	-0.03	27.74	11
MINDTREE	-23.77	41.19	14
DIVISLAB	-19.01	19.01	6
JINDALSTEL	-15.41	127.8	31
UBL	-12.96	48.88	15
VOLTAS	-45.61	71.98	24
MMFIN	-30.35	49.92	14
BHARATFIN	0.00	0	0
TVSMOTOR	-71.71	80.62	28
IFCI	-96.71	167.07	27
IDFC	20.68	69.01	16

In gap down, movement is good.

Total trades : 2984.
Total sum of open -close % (2nd column): -4069. => Gaps filled.
Sum of absolute change(3rd column) : 10252.

It shows a movement of 3.43% per trade.

The above also shows gaps are often filled. Now, further study needs to be done on the Opening range breakout on the stocks with a gap.

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