Analysing Hammer Candlestick Patterns on NIFTY 50: A Technical Perspective

This study investigates the efficacy of the bullish hammer candlestick pattern in predicting short-term reversals in the NIFTY50 index during the period 2019 to 2024. As a widely recognized reversal signal, the hammer pattern is analysed in terms of itsfrequency, success rate, and performance before and after major events such as the COVID-19 pandemic. Using historical pricedata and technical analysis tools, the paper assesses pattern reliability using statistical metrics such as success ratio, averagereturns post-pattern, and risk-reward measures. The findings provide valuable insights for traders and analysts seeking toincorporate candlestick signals into their trading strategies.