Nifty Channel Trend Analysis
Nifty is moving inside parallel channel since March 2020 and 3 times has formed temporary inside channels. I have tried to highlight previous instances where similar setup got created and then as a result breakout happened after double rejections. This time 3 rejections has already happened within temporary inside channel and Nifty is again moving up and may try to break upper channel once again.
I am not expert on trendlines therefore i may have overlooked many rules while drawing channels therefore please excuse if I overlooked some serious rules.
What do you think pattern observation has some value it or not?
I am not expert on trendlines therefore i may have overlooked many rules while drawing channels therefore please excuse if I overlooked some serious rules.
What do you think pattern observation has some value it or not?
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