CDSL

Stock is making Bullish hammer pattern in the chart as per this pattern 1140 is the support. Bullish Hammer Pattern A Bullish Hammer is a single-candle reversal pattern that signals a potential shift from a downtrend to an uptrend. It typically appears at the bottom of a downtrend and indicates a strong rejection of lower prices. Key Characteristics: Small Body: The candle has a small real body (green or red). Long Lower Wick: At least twice the size of the body, showing strong buying pressure after a sell-off. Little to No Upper Wick: Indicates that buyers pushed the price near the high of the session. Location: Found at the bottom of a downtrend or near a support level. Psychology Behind the Pattern: Initially, sellers drive the price down. Buyers step in aggressively, pushing the price back up. The close near the high suggests a possible trend reversal. Trading Strategy: Entry: After confirmation with the next candle closing above the hammer’s high. Stop Loss: Below the low of the hammer candle. Target: Based on resistance levels or risk-reward ratio (e.g., 1:2 or 1:3). 🔹 Important Note: A bullish hammer should be confirmed with increased volume and a bullish follow-through candle.