Explanation:

- Conceit : Modesty: This pair represents antonyms. Conceit is excessive pride, while modesty is about humility and lack of arrogance.

- Despair: This word is a feeling of complete hopelessness or loss.

- Option 1: Hope: This is the feeling of expectation and desire for a certain thing to happen. It's the opposite of despair, making it the correct antonym.

- Option 2: Gloom: This represents a state of depression or darkness. It is similar to despair rather than opposite.

- Option 3: Anguish: This means severe mental or physical pain, likened to despair.

- Option 4: Pain: This implies physical discomfort or suffering, not directly opposed to despair.

The correct answer is:

- Option 1: Hope