hammer-bullish trend-adani ports

[ragunathan]

Buy=303, stop loss-289.5, sell=316.5

[Bagya]

Sir

Adani Analysis – Hammer Man you have posted, certainly looks like reversal pattern with significant volume, but the candle looks more like a green hanging man rather than a green hammer man.  This signifies that even though the price went up to the day’s high of 302, it has come down to 295 by end of the day.  So does it meet the criteria of hammer man?

Sir, I am a novice.  So I might be 100% wrong.  Kindly forgive and correct me if I am wrong.

[ragunathan]

Sorry. I posted wrongly the pattern name. Its a inverted hammer and its condition is to be come in downtrend only with high volume

The conditions for Hanging man is coming in uptrend only and it should be red in colour.

[Author]

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