Hammer-Nifty-26Aug19

Trade plan: Hammer candlestick indicates bullish trend (and a reversal from recent bearish trend)

Below conditions met:
1. Hammer appears after a significant price fall.
2. Hammer’s lower tail is minimum twice its body size
3. Hammer is green in colour
4. The Hammer’s upper tail is small size
5. Volume is relatively high on the Hammer day
6. Long position can be created
7. Risk:Reward = 1:1

Please note that no other signal verification done such as MACD, RSI, etc.