One channel & so many benefits- first it worked as resistance at 20264 & gave us a fall of 1000 + points to bounce from 19059 & look the beauty -same channel acted as resistance & BankNifty made a high of 19816 -which again got restricted by the same channel giving us again 1000+ points.
Will it bounce from the channel support? -Time will let us know.
First, we need to see whether channel holds, then only we will plan our trades. Never catch a falling knife- we won't be always fortunate to escape the damage. so we will wait & watch for the green signal from the market.