I am posting nicely formed Diamond pattern , ready to trade to take advantage and timely decision. Good Luck
Bearish Diamond Pattern on Sun TV and lead to fall upto the FIBO - 50%. Trade: Short below - 526 Target 1 - 516 Target 2 - 502 Target 3 - 489 Stop Loss - 543 Reward Points = 37 Risk Points = 17 "Happy Trading"
Diamond pattern is relative rare pattern. It has not given the breakout out yet but one can put it into watch list and trade accordingly. Another possibility that exists right now is that it may go to touch other side of the pattern around(1520) so a 60-70 points points move is possible and thereafter another trade on breakout.
ABCD Diamond formation on Sun Pharma and RSI oversold at 1 hr. Trade: Buy above - 635 Target 1 - 643 Target 2 - 650 Stop Loss - 625 Reward Points - 15 Risk Points - 10
* Channel Breakdown & Retest (Green dashed line) * Diamond Breakdown (Black line) * Support zone breakdown (Red horizontal lines)