Identified Hammer pattern for Havells on may’19
SL can be @ 712.6
Target @ 773.5
Buy @ 729.9
Kindly let me know if there is any Mistakes.
, , Hammer Pattern
, , Hammer Pattern
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Hello Ayshwariya,
You have identified the hammer pattern nicely and fixed the stop loss as the low of the hammer.
But the target seems to be high.
Stoploss: 17.3 points, But the target is 43.6 points. The risk to reward of 1 : 2.5
In the above scenario, you would have hit the stop loss before achieving the target.
Observe the chart. The price hit the stop loss after 10th day of the hammer pattern but the target on 13th day.
Hi Sir
Thanks for ur reply…. I did miss that…. Will rectify it next time.