Trading in better rewarding as risk is comparative lesser where you try to gauge reversal at channel extremes and take advantage of low stop loss during this reversal points. Channel breakouts on the other hand are extremely difficult to trade because stock has tremendous and getting a proper entry during this high volatile period is a challenge. The ideal way is to wait for the initial and euphoria to die down and let the stock consolidate and wait for channel role reversal of channel .
NSE:JSWSTEEL after 2nd week of September there was a correction with lower volumes and the stock test the support of the channel which earlier was resisting the stock. This should be an Ideal entry point. This is a medium term trade, from increasing volumes we can make out the participation phase.
Duration should be 6-8 months for this and we can expect around 50% return on investment.