Hammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow. The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price. The close can be above or below the opening price, although the close should be near the open for the real body of the candlestick to remain small. The lower shadow should be at least two times the height of the real body. Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation.
@irms2001 It is risk to reward ratio.1:2 means for eg. if you are taking the risk of 10 rupees then your reward should be 20 rupees
irms2001
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@Jainshashwat, sir whai wanted to knowas i bght 1700 @218 the day it fell to 199 in ten minutes from 218 ,is ur analysis sees 218 and beyond,can i have some trgets with timeline if possible otherwise i am trapped
Jainshashwat
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@irms2001 yes it may go to 225-228 in further days.
StockWhizzer
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Is 195 a strong 6 year support?
irms2001
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@StockWhizzer, i dont know bhai ,i am trapped it hit 191 5 days baxk already