in channel its risker to take positions in middle of the channel so best would be to go long when prices touch lower channel and to go short when price touch upper channel
when prices are touching lower end of the channel or upper end of the channel you will see multiple other factors which will support the bounce or resistance like candle sticks or bullish signals in lower time frames like 1hr and 15 min or you will find gaps that are to be filled either upside or down side or can use various others indicators for conformation in lower time frames like macd , rsi , mfi or moving averages crossovers or divergences etc .
so till nifty moves in channel the trend is downwards
so what are the things that can happen in the channel stay cautious near major support1 and major support2 ,,200 dma acts as support , 20 dma currrently is acting as resistance if price move above 20 dma it will act as support
simply can trade at upper channel going short keeping stoploss slightly above the channel and long when prices touch bottom of the channel we should not take trade between the channel unless you are experienced trader ,
disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk :)
when prices are touching lower end of the channel or upper end of the channel you will see multiple other factors which will support the bounce or resistance like candle sticks or bullish signals in lower time frames like 1hr and 15 min or you will find gaps that are to be filled either upside or down side or can use various others indicators for conformation in lower time frames like macd , rsi , mfi or moving averages crossovers or divergences etc .
so till nifty moves in channel the trend is downwards
so what are the things that can happen in the channel stay cautious near major support1 and major support2 ,,200 dma acts as support , 20 dma currrently is acting as resistance if price move above 20 dma it will act as support
simply can trade at upper channel going short keeping stoploss slightly above the channel and long when prices touch bottom of the channel we should not take trade between the channel unless you are experienced trader ,
disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk :)
Comment:
we can see 16800 acted as support next we can expect 18100-18300 may budget might trigger