Inverted Hammer is a Bullish Pattern that indicates a reversal. This indicates that the price is falling for many days It is time to change its direction to go up.
This pattern is formed on a daily time frame with a high volume which indicates Momentum.
As price is on 200 days EMA which acts as a support. There is a high Probability of Stock going up.
Risk to Reward is favorable for this Trade.
We hope that Rites Industries is good for Swing Trade.