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We witness hanging man pattern on 10 March 2021 in Colgate Palmolive. Being bullish reversal, we can short the stock. Entry price will be bottom of the hanging man pattern ie., Rs. 1,625 stop loss will be Rs. 1,650. Target price will be equal to the risk taken ie Rs. 1675
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Hi,
The prior trend for the Hammer should be a downtrend.