NSE:NIFTY   Nifty 50 Index
171 10
Comment: watch
Comment: yes nifty ultimately formed this pattern
Though this gives impression of a bullish hammer, however due to its location, I'm inclined towards identifying this as "hanging man". Kindly comment. Cheers and best wishes.

rupambose32 anupam_ahuja
@anupam_ahuja, truely i am speaking i am only bullish,i donote trade with candle stick pattern,they cofuse me,only i know price rejection
anupam_ahuja rupambose32
@rupambose32, Same is the case with me, though the study of candlesticks is fascinating. Let's see how does the price move, if Weekly closing < than the low of this "pin bar" then its a bearish indicator otherwise all is well :-)
rupambose32 anupam_ahuja
@anupam_ahuja, yes you are right
rupambose32 anupam_ahuja
@anupam_ahuja, what about your bullish hammer
anupam_ahuja rupambose32
@rupambose32, Yes, possible but the problem is its location. Its said, Hammers are usually formed at the bottom to hammer the prices UP. We have to wait and see.
For that candle stick patter to be valid its close shall be within the body of previous candle I think!!!
rupambose32 KazimAbbas
@KazimAbbas, watch
KazimAbbas rupambose32
@rupambose32, now see crash this is wht i was trying to tell :)
rupambose32 KazimAbbas
@KazimAbbas, till now no change
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