Indian bourses, on August 19 witnessed a half a percent gap up opening, following its global peers and traded above 11,400 for the majority of time throughout the day. The market breadth also remained in favour of bulls. For every single loser, there were more than two gainers. Nifty registered a high above its previous double top resistance. A high above a double top pattern indicates the continuation of a higher high higher bottom formation on the daily timeframe. For the past few months, the benchmark index is trading in a rising channel formation and within that period prices have respected its lower band of the channel almost four times and successfully rallied higher. India VIX continues to drift lower below its four-month low and witnessed a breakdown of its smaller degree trendline on a daily interval.