Nifty Chart Analysis

Nifty is running in a Channel.

Channel is part of chart analysis in which a stock runs within two trendlines that works as support and resistance for that stock. If it breaks the resistance with a strong signal then go for long (buy) position otherwise go for short (sell) position on support breakout.

Nifty has tested almost 5 times both support and resistance, soon we may see a breakout.