bearish diamond top formation

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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.

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ملاحظة

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.

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ملاحظة

price took support from supportline .... see last green gcandle

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ملاحظة

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