Galaxy Y is restarting again and again after factory reset. I formatted my phone due to "low space in memory", after I click on factory data reset and now my phone is restarting over and over.

I waited for 5 minutes but it was not turning on then I removed my battery and I restart it but it was showing samsung's logo only.

I also tried to enter into recovery mode for factory reset by pressing volume down+power button, but same thing happened restarting again &amp; again showing only Samsung logo
A hard rest on that device is: Hold and press the Volume up, Home, and Power buttons simultaneously for 10-15 seconds.  

There is a set of visual instructions here: http://visihow.com/Reset_a_Samsung_galaxy_young_gt-s5360_using_two_different_methods if you want to get a sense of what that will entail.