NSE:NIFTY   Nifty 50 Index
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5
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pattern
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.

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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
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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 :-)
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rupambose32 anupam_ahuja
@anupam_ahuja, yes you are right
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rupambose32 anupam_ahuja
@anupam_ahuja, what about your bullish hammer
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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.
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For that candle stick patter to be valid its close shall be within the body of previous candle I think!!!
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rupambose32 KazimAbbas
@KazimAbbas, watch
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KazimAbbas rupambose32
@rupambose32, now see crash this is wht i was trying to tell :)
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rupambose32 KazimAbbas
@KazimAbbas, till now no change
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