After a significant rise in price, Hammer pattern was formed, High Volume was seen was seen as confirmation. The Trade is Short position with Entry point at crossover of low of the Hanging Man (Point B -155.3), The Stoploss is set at point B (160.0) which is the high of the Hanging man. Since hanging man is a powerful pattern, we set a 1:2 risk reward ratio. The Target (point C – 145.9) is reached in 5 days.
CASTROLIND – HANGING MAN – BEARISH
