The pattern above is witnessed for the hanging man trend.
There is no much volume is actually seen on the hanging day.
Continuous bullish trend followed by a red hanging buying pressure indicates a trend reversal.
The upper tail of the hanging man candle stick is seen double that of it’s body.
Lower tail is very minimal as expected.
Short position can be placed at the price below 55.8
The risk taken is 1.8 whose target is calculated to be 54 which is achieved in two days.