HAMMER PATTERN: THE CHARECTERISTICS ARE
1. IT APPEARS AFTER PRICE FALL(HAMMER) OR RALLY(HANGING MAN)
2. IT IS A REVERSAL PATTERN
3. HIGH VOLUME ON HAMMER /HANGING MAN DAY IS REQUIRED
4. THE LOWER TAIL OF HAMMER SHOULD BE ATLEAST TWO TIMES THE BODY AND UPPER TAIL SHOULD BE VERY SMALL OR INVISIBLE. IT SHOULD BE REVERSE FOR HANGING MAN.
5. FOR HAMMER GREEN HAMMER SHOULD APPEAR AFTER PRICE FALL.
PLEASE REFER THE CHART ATTACHED. IT IS SATISFYING THE ABOVE CONDITION. CREATED LONG POSITION WHEN PRICE CROSSED THE HEAD OR UPPER TAIL OF THE HAMMER NEXT DAY (RS.67) THE STOP LOSS IS AT THE LOW OF HAMMER DAY (RS.64) AND TARGET IS 1.5 TIME THE RISK TAKEN (71.50)
