- Nifty this week drifted from 5293 to 4955, finally closed to 5036 on Friday
- Positive aspect is on Friday Nifty bounced back from low of 4955 & closed at 5036 level, which shows "Hammer" - indicates Bullish Reversal.
- Bullish reversal is only confirmed if next trading day, market should open gap up or show buying pressure or long white candlesticks.
What is Hammer ?
- The market is in downtrend
- Small body at the upper end of the trading range
- Color of this body is not important
- Long lower shadow at least twice the length of the body
- Little or no upper shadow
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