Following a series of negative candle during a downtrend, a positive candle with smaller body, smaller top tail and longer bottom tail representing hammer shape has appeared. During the Hammer candle the volume is also high. This shows trend reversal. So we can take long position only if the price moves above the top tail of the hammer candle.

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Stock Ticker – NSE: MOTHERSUMI – Motherson Sumi Systems Ltd. – AUTOMOBILE
Bullish Trade plan:
Entry Level 99 Target 106 Stoploss 92
Analyst Rating – :4/5
View Posted on 2019-08-08

5 Comments
  1. Naresh 2 years ago

    Hi,
    Good spot… Good recovery from the day’s low with unusual volume

  2. Author
    MOHAN KUMAR R 2 years ago

    Target achieved in a day.

  3. Christopher Naveen 2 years ago

    Good Spot,

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