First Candle Gap-Up Trap: Closed Below Previous Close
The first candle opened 1-15% above the previous close, printed an upper wick, and closed back BELOW the previous day's close - the whole gap erased inside one candle.
About This Scan
This is the strictest opening-candle failure: the stock opens 1-15% above yesterday's close, prints an upper wick, and by the close of the very first candle is already below yesterday's close. The entire gap was erased inside one candle. The scan compares the first candle's close with the previous session's last close, so it flags only true single-candle gap fills.
Scan Rules
Stock passes all of the below filters in the ALL segment using 5M candles:
- 1.First Candle Gap Up % between 1
- 2.First Candle Vs Prev Close % less than 0
- 3.First Candle Upper Wick % greater than or equal to 0.3
- 4.Traded Value (Rs lakh) greater than or equal to 500
How To Use This Scan
- •Switch the interval to 5m, 15m or 1h to choose how long the 'first candle' is; the list is fixed once that candle has closed.
- •Fewer stocks qualify than on the broader first candle reversal scan - treat this as the high-conviction tier.
- •Check news for the stock: a gap that fails this fast is often a reaction to results or a block deal.
Frequently Asked Questions
What does closed below previous close mean here?
The first candle's closing price is lower than the last close of the previous trading day, even though the stock opened above it.
Is this the same as a gap fill?
Yes, completed inside the first candle. Most gap fills take hours; a first-candle fill is unusually fast.