HDIL TURNING UP It is been observed on daily chart that the price action forms a Hammer candlestick at the support levels where price action was picked up from the day's low to end near the high or open of the day, indicating a bullish come back at crucial support levels. Now, it shall turn up to around 61 levels which is 23.6% Fibs retracement levels.
Target: 61
Stoploss: 52
Risk Reward: 1:1
Hammer
RCOM - BULLISH HAMMER FORMATIONToday, the price action took the prices to the previous support level of 47.45 where the buyers entered in the market and took the prices up again to close to day's open. It formed a bullish hammer that indicates rejection of lower prices and high buying pressure. To confirm this formation we shall see a green upside candlestick aiming to reach 53 levels which is the next resistance level.
Target: 53
Stoploss: 47
CMP: 49.20
Risk Reward: 1-3