I was wondering is possible to read a diode voltage drop in both directions in circuit with meter.

 

Not for a regular diode.

If you had a low voltage zener, it might work. It depends on the voltage used by the meter. I think mine only works to 2 volts.

 

Your multimeter will not measure the reverse voltage in or out of circuit.

Bob

 

With the diode in circuit, yes, you might read conduction in both directions - one direction being the forward conduction of the diode and in the other direction conduction through some other component in the circuit. For instance in the circuit below, checking the diode, the base-emitter of the transistor will conduct in the reverse direction.