DSSL BO with huge volume with support/demand zone found on the magical Parallel channel. Stock is finding good support in the zone of 250-260, rest we can plan the trade as levels mentioned on the chart
Case Study 1 - Reliance Industries - Long Term Magical Parallel Channel : we can clearly see the price has respected the parallel channel in a magical way, 1996-1997 3 point touch parallel channel support HELD in 2015-2016-2017 & Mar 2020 crash too. #relianceind
Case Study 2 - Tata Steel - Parallel Channel worked magically in the Tata Steel were price went strongly through the ceiling of parallel channel, creating another parallel channel guided to capture the whole rally in #TataSteel
Case Study 3 - Havells - Initial Parallel channel was drawn from 2003 base and connected to 2009 low, stock found buyer on the same parallel channel in 2020 crash, even late buyers could have mad +234%. #havells
Case Study 4 - Nifty -
Same Parallel Channel can Help to enter the larger trend by using it in the correction phase, examples are
Case Study 1 - #Nifty
Case Study 2 - #Techm(Tech Mahindra)
Conclusion : Parallelchannel is one of the most powerful tool in the TA & it can be very useful in finding trend and riding most of it.
Hope above examples help in your trading decisions in future, if you find the work useful do LIKE, SHARE & COMMENT...
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
Dssl show moves as mentioned