Lalpathlab making Diamond Bottoms Pattern, as we all know this is a reversal pattern which provide good trade opportunity on support/resistance level and we see it rarely, I do not know if this is perfect or not, would love to hear views of senior community members.
Reliance is making diamond bottom
Tomorrow highest OI at 2000 call option (30 Lakh share)
Once it is broken, much upside is possible.
Only for demonstration purposes.
Nifty has formed a Diamond Bottom pattern.
Low of the diamond coincides with Nifty new support zone around 10900. Took support from here and now in uptrend.
Diamond's upper resistance line has been broken yesterday suggesting a possible NIFTY breakout.
Breakout candle length isn't upto the mark but can be considered in view of a bullish nifty due to positive...
NSE:HDFC
Reasons being: Diamond Bottom Formation
What is Diamond Bottom?
- The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern.
Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks
upward out of the diamonds...
