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  • Hanging Man

Hanging Man

  • Posted by Trading Campus
  • Date March 7, 2017
  • Comments 4 comments

A Hanging Man is similar to a hammer, except for the fact that it occurs at the top of a trend in an uptrend. The name comes from the fact that this candle line looks like a man hanging. The body of the candle is concentrated mostly in the upper part of the candle. 

How to recognize the Pattern?

  • The small real body is at the upper end of the candle.
  • Its not important that what is the color of the candle.
  • The small real body should be one third of the lower shadow.
  • The upper shadow should be very small or absent.

Interpretation:

The market was bullish since it was in an uptrend.  During the day of the pattern formation, the price action traded much lower than where it opened, then rallies to close near the high. This is the reason for a long lower shadow. Now, when the market opens next day, lower than where it closed the previous day, people who were long in the stock would close their positions initiating a short position. New participants will also enter the rally by creating new short positions.

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This makes the stock to close at its low during that day.  A conservative trader might wait for another day after the hanging man and initiate a position, because there is a strength in the pattern formation.

 

 

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March 7, 2017

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Company Summary

Bajaj Electricals Limited is engaged in engineering and projects; power distribution, illumination and consumer durables businesses.

It has a range of domestic and kitchen appliances comprising water heaters, room heaters, coolers, irons, mixers, induction cookers, toasters, kettles, microwave, rice cookers, gas stoves, non-electrical kitchen aids and pressure cookers.

It offers ceiling, table, pedestal, wall, fresh air and industrial fans, and lighting solutions, such as light sources, light emitting diode-based lighting products, domestic luminaires, torches and lanterns.

Key Highlights of Company Business

Segments and Products

The Company's business segments consist of

  1. Lighting;
  2. Consumer Durables;
  3. Engineering & Projects,

The Lighting segment includes lamps, tubes and luminaries.

The Consumer Durables segment includes appliances and fans.

The Engineering & Projects segment includes transmission line towers, telecommunications towers, highmast, poles and special projects.

The Others segment includes diecasting and wind energy.

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