Hammer : Bullish-Bottom Reversal- ASHOKLEY

Hammer is a single candle Pattern – Bullish Candle formation that forms at the bottom of a downtrend.Great for identifying the up coming bullish trend Hammer that forms at the support level suggests that the existing trend will reverse and the green hammer suggests the future up trend. Here at ASHOKLEY after a strong downtrend, a green hammer forms.It signifies the reversal in trend.As a conservative approach watch the market closely.The bears were not ready to loose their position and they constantly fought to keep their position.We need to enter the market once a candle just breaks the near by resistance level – ie- 116.5 ,SL @112.5 and our Target being  @120.5