We witness hammer pattern on 21 December 2020 in the price of Aurobindo Pharma Limited. This is bearish reversal pattern and therefore we can take long position for this stock. Entry price shall be Rs 859 and stop loss shall be 823 which is bottom tip of the hammer. Target shall be equal to risk and thereby our target price will be Rs 895
AUROPHARMA- HAMMER – BEARISH REVERSAL
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Stock Analysis
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Bullish View
Bearish View
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Hi,
Good example sir…. It would be more appropriate if the volume is high. A candlestick reversal pattern on high volume carries more weight than a candlestick reversal pattern on low volume.