Why the stop is far away? can't it be a close just below the channel? and wont the bullishness confirm after a firm close above the hammer?
AbhishekHiremath
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@Parasuram, i think a stop at 50ema 1605 should work
ParamjitMahapatro
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@AbhishekHiremath, @Parasuram , yes a sl just below the horizontal/channel support would work, I put sl around the second support level, because, its result is yet to come, and volatility may rise, and some times a predefined sl may get triggered due to intraday swing.
bearishbull1968
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@ParamjitMah apatro in sync. with u r view. nice trade set up :)