This gap appears to be a runaway gap during downtrend. Price opens lower than previous day but it manages to go up owing to high volume. The downtrend gets exhausted. So it is called exhaustion gap.
ULTRACEMCO – EXHAUSTION GAP
This gap appears to be a runaway gap during downtrend. Price opens lower than previous day but it manages to go up owing to high volume. The downtrend gets exhausted. So it is called exhaustion gap.