Hammer in the Nifty

Hammer in the Nifty

Today's monthly chart of Nifty is likely to develop a bullish hammer candlestick pattern. The Location of the pattern plays an important part in the importance of the pattern. Near a key support or at the end of a trend it is bullish, in between it could have been a trap called a hanging man. In this case it give strength to the double bottom near 7550

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