BHARTI AIRTEL IS BEARISH HANGING MAN.
TAKE SHORT POSITION. 340.00 is support. That is 1st Target. 340 is breakdown then 315.00
, , BHARTIARTL
, , BHARTIARTL
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Hanging man should appear on top, but here the last few days was higher than the current candle…
The Hanging Man is only one candlestick, but it must be surrounded by candles that confirm its existence.
If you’re trying to identify a Hanging Man candlestick pattern, look for the following criteria:
First, the lower shadow should be long, at least two times the length of the body.
Second, there should not be an upper shadow (though a very small upper shadow is sometimes admissible).
Third, it must occur at the upper end of the trading range.
The color of the body isn’t important, although a black body suggests more bearish results.
Fourth, the stock absolutely must be in a definite uptrend before the Hanging Man occurs.
Fifth, the Hanging Man must be confirmed on the following day by either a black candle or a gap down with a lower close.
Also any candlestick pattern it is considered after a significant fall or rise only not during any sideways movement.
Thanks sirji all of u to right suggestions….