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Channels are formed by drawing parallel trendlines above and below a price series to contain the price movement within two boundaries.
Rising Channel: Also known as an uptrend channel, it is characterised by higher highs and higher lows. The upper trendline marks resistance, while the lower trendline marks support.
Falling Channel: Also known as a downtrend channel, it features lower highs and lower lows. The upper trendline marks resistance, while the lower trendline marks support.
Horizontal Channel (Sideways): This is formed when the price oscillates between horizontal support and resistance levels. It indicates a period of consolidation where neither bulls nor bears dominate.