Kotak Mahindra Bank

Bullish hammer pattern on the support trendline. The hammer candlestick pattern is a technical analysis pattern commonly used in trading to signal potential reversals in the price direction. It typically appears at the bottom of a downtrend and suggests that the selling pressure may be weakening, potentially leading to a bullish reversal. Key Features of a Hammer: Small Body: The real body (difference between the open and close) is small, typically at the upper end of the trading range. Long Lower Shadow: The lower shadow is at least twice as long as the real body, indicating that sellers drove the price down, but buyers managed to push it back up. Little to No Upper Shadow: A hammer usually has little or no upper shadow, although a small one is acceptable.