Candlestick Pattern Interpretation

The Bullish Hammer appears in a downtrend, a sharp sell-off is witnessed during trade. After the decline comes to an end, the price almost returns to the high of the day. The market fails to continue on the selling side. This price movement reduces the previous bearish sentiment causing short traders to feel increasingly uneasy with their bearish positions. If the body of the Hammer is blue, then the situation looks even better for the bulls.

Following is the list of stocks that are likely to trade with a positive bias in today’s trade, backed by a formation of bullish hammer candlestick pattern:

Scrip Stock Price Candlestick Pattern View
Ajanta Pharma 1071.5 Bullish Hammer Bullish
Thomas Cook 229.5 Bullish Hammer Bullish
Bajaj Finance 2197.8 Bullish Hammer Bullish

FUTURE CALL: SELL AMBUJACEM BELOW 217 TARGETS 216 / 214.50 / 211 STOPLOSS 218.50