The hammer is a bullish reversal candlestick pattern that occurs at the bottom of a downtrend. It is characterized by a small body and a long lower shadow. The long lower shadow indicates that there was a lot of selling pressure during the day, but the buyers were able to push the price back up to the opening price.

The hammer is considered to be a reliable signal of a trend reversal, but it should be used in conjunction with other technical indicators to confirm the pattern.

Here are some tips for trading the hammer candlestick pattern:

  • Look for the pattern to form after a strong downtrend.
  • Wait for the price to close above the open of the hammer before entering a long position.

The hammer is a useful tool for traders who are looking to buy the market, but it is important to remember that no single pattern is 100% reliable, and traders should always use caution when trading.

These stocks have formed a Hammer Pattern on 1 Day time frame

Company SymbolSectorPriceChangeVolume52wk High52wk High1Y BetaP/EM CapRating
HYBRIDFINFinance7.800.00 (0.00%)6,93128.107.00-17.6042.14235.5 MStrong Sell
NGILConsumer Non-Durables45.451.25 (2.83%)21,428149.4341.600.3860.80553.8 MNeutral
NARMADAProcess Industries19.800.15 (0.76%)7,96631.3018.351.9839.73266.2 MSell
OMKARCHEMProcess Industries7.950.35 (4.61%)26,40832.306.801.57160.5 MSell