5414 Does the price will come down to fill this gap?
A vertical rise with a red bar breakout with bull candle is a breath for the market indicates the bullishness. But here the scenario may be pull back possibility
may not be considered for hyper bullishness, as recent fall and 17000 round number effect. Price may halt for 2 to 3 days due to big round number effect, but ultimately as to take W formation at the bottom to move ahead or to break this big round number.
Further. if price tends to close the downside gap slowly, then there will be chance to beat or cross and sustain this round number of 17000.
conclusion: the probability of downside movement of 200 to 300 pts are eminent to fill the gap, i.e., short term downside movement; but this is only probability of 60%. Hence SL compulsory.
may not be considered for hyper bullishness, as recent fall and 17000 round number effect. Price may halt for 2 to 3 days due to big round number effect, but ultimately as to take W formation at the bottom to move ahead or to break this big round number.
Further. if price tends to close the downside gap slowly, then there will be chance to beat or cross and sustain this round number of 17000.
conclusion: the probability of downside movement of 200 to 300 pts are eminent to fill the gap, i.e., short term downside movement; but this is only probability of 60%. Hence SL compulsory.
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