From the chart, it is seen that after a significant price fall, a hammer pattern appears with high volume. It has a long lower tail with at least twice the size of the hammer body and also has a very short upper tail. This confirms the hammer pattern and a trend reversal is expected. Therefore, the price will go up further and it is recommended to create a Long position. Since it is a hammer pattern, almost double the reward is expected for the risk taken.
Reliance hits with a Hammer
