As I mentioned in this blog a few times, when the market gapped up or down more than 1% , but does not close the gap within the first two hours, there is very high chance it’s a trend day. In trend day, markets keeps moving higher and close at high of the day (HOD). When there is some pullback, 50ema or even 20ema serves as a good support for the market.
This works particularly well when the gap direction is inline with the market trend, i.e., in the bear market, unfilled large gap down is likely to lead to a down trend day.
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