For past few days Nifty is behaving fantastic atleast that's what I feel bcos we are getting pattern formations so easily for last few days without any hard try around. From the chart you can clearly see that Nifty is repeating what it has done earlier. The Channel-1 was smaller which resulted in 120 points move and on repeat of same size channel 1 we had another 100 points. And on the bigger channel-2, Nifty moved around 240 points upside and now it looks like breakout time for Repeat Channel-2.
We are already aiming for 9800's zone and if this channel breaks out as expected and goes good we will be booking our profits soon and Am not sure about whether Nifty will remain in channel for the day, I guess it needs to breakout bcos except last friday whole week was just ranging one.
Happy Trading !