NIFTY : Diamond Pattern Breakout
A diamond pattern in visible in hourly charts.
In this pattern prices first broadens inside a zone and then starts narrowing down.
Breakout of the diamond signifies a clear trend then...
Nifty is looking a bit weaker and some lower levels can be expected in upcoming days unless some good news pop up .
Levels to expect:
Downwards:
S1 11350
S2 11100
S3 10900
Upwards
R1 11600
R2 11800
In this pattern prices first broadens inside a zone and then starts narrowing down.
Breakout of the diamond signifies a clear trend then...
Nifty is looking a bit weaker and some lower levels can be expected in upcoming days unless some good news pop up .
Levels to expect:
Downwards:
S1 11350
S2 11100
S3 10900
Upwards
R1 11600
R2 11800
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