Icici Bank

The bullish hammer candlestick pattern is a single-candle pattern that can signal a potential reversal from a downtrend to an uptrend in technical analysis. Here's a breakdown of its characteristics and significance: Key Characteristics of a Bullish Hammer: Shape: Small real body near the top of the candle. Long lower shadow (usually at least twice the length of the body). Little or no upper shadow. Location: Appears after a downtrend or a series of declining candles. Color: Can be green or red, but a green (bullish) hammer is typically seen as more optimistic. Meaning: Shows that sellers pushed the price lower, but buyers regained control and pushed the price back up, signaling a potential reversal.