bearish diamond top formation

As shown on Bata india weekly chart, bearish diamond top formation is going on. As its name suggests .. it is bearish pattern . But price can again go up to resistance line ( 1600 ) and again move towards resistance line.
Comment: looking like, new weekly candle starts with the support from support line of diamond. Chances are more that ... price will kiss resistance line in this week. that point is above Rs 1600 mark.
Comment: price took support from supportline .... see last green gcandle
Comment: Idea is published on Feb 27 & today is 10 th Mar. Price is within the pattern & respected supportline on 1 st Mar. One should study larger timeframe charts for accuracy


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.