Bank Nifty: For the Love of Channels -- the Strategy Henceforth

Observation: BN just shy off touching the upward sloping trendline (thick green line) and trending higher.

Assumption: As it is clearly visible from the chart that BN has moved out of the downward sloping channel1 and has entered into an upward sloping channel2, the uptrend seems to have been continuing itself.

Strategy: The strategy now would be to buy the low of the channel and probably sell the high of the channel.

All the best
Thanks.

Comment:

BN may face some resistance in the specified zone as it is the sub-channel high and major channel mid-line confluence zone.