MOTILALOFS - Diamond Pattern in Weekly time frameHi Price Action Freaks,
A rear pattern that gets formed that is Diamond Pattern. Check this out, looks good for either side breakout.
I hope you will benefit from this knowledge
-MetaVish
Diamondpattern
Vodafone IdeaBreakout from a Diamond formation.
Facing another resistance at 13.75.
If it manages to close above 13.75 we can get to see first levels of 15-16 where it again faces resistance from a trend line.
Above 18-19 it could race.
Banknifty diamond on 15mins that too on top....is this more accumulation or distribution at the top....diamond like shape seen right at the top on 15mins..keep on radar intraday...
NIFTY : Diamond Pattern BreakoutA 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
Diamond Bottom Pattern: BreakoutNifty 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 news surrounding covid vaccines.
This week Nifty Target would be around 11400-11450.
Bearish Diamond Top - NIFTY 1 HRNSE:NIFTY
NIFTY is forming a bearish diamond top on the 1 hour chart. The breakdown level is 11,111 for a confirmation.
Target: 10822
SL: 11189
CIPLAIt has triggered a Bearish Ichimoku C Clamp in daily time frame which suggest a retracement till 615. In hourly its making a Bearish Diamond Pattern indicating 615/600 on break of 638. View would go wrong above 653
Rare Diamond pattern; expect selling up to 1.09 level.The pair has formed a diamond pattern, which is very rare. The pattern is favorable for bears. The price can take a break down from the current level or can first move up to 1.10532 before any bearish move. The tp for the trade is at 1.09685. If we get a daily closing below this support, we can look at 1.09 as the next target. For the entire trade setup, the stop loss can be set between 1.10532 – 1.10755 area, preferrable close to the upper level.
BUY NCC NCC has yesterday crossed support of 78.30 is expected to increase today. I think stock will today break the triangle and diamond pattern which will act as a breakout of triangle and diamond pattern. Stochastic which is at 12 & 15 confirms the pattern and gives bullish signal. You can purchase the stock at 79.75 Target at 82 Stoploss at 76.5
DIAMOND @ CIPLALEVELS MENTIONED IN THE CHART.
RSI DIVERGENCE ALSO SEEN.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
DECISIVE POINT ? @NIFTY with a DIAMOND & TRIANGLELEVELS MENTIONED IN THE CHART.
Also, the RSI gives no pre-guess for a directional move. Waiting for a breakout would be a better strategy.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
Nifty A diamond in the making ready for a 640-700 point movementNifty CMP 10852
We have seen a nice expansion pattern and then a contraction pattern in Nifty. All forming a nice diamond in the making...
Now we could be in for some directional movement. Diamond chart patterns are associated to reversal pattern. Be ready for a 640-700 point movement.
Take care & safe trading...!!!
FMNL on Continuation Diamond Pattern break outFMNl has formed a good continuation diamond pattern trying to break out of with , can go long with the target of 180 -200 in long term basis
Diamond formation on NiftyDiamond formation on Nifty and expendable triangle formation. 9130 to 9120 having good support zone. So Nifty may touch the support zone. Short initiate when the price cross below 9275 an cover the short at 9130.
Diamond Pattern Breakout NTPC !The Stock has given breakout from one of the rarest pattern i.e. Diamond pattern. It works continuation pattern and formed half way. Those who are interested can trade in the direction of the breakout better on some dips.
Bearish Diamond Pattern on Sun TV 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"
ABCD Diamond formation on Sun TV - SHORTABCD Diamond formation on Sun TV. RSI Overbought condition and it may have correction.
Trade:
Short Below - 514
Target 1 - 508
Target 2 - 500
Stop Loss - 520
Reward Points - 14
Risk Points - 6
