First channel on Nifty monthly chart

I just realized that entire history of Nifty50 can be seen as three neat patterns on monthly chart. This is the first chart for the first 13 years of the exchange and the index. It gave a healthy return of 15% per annum, when banks deposits also gave lower double digit returns.

I personally don't believe anyone could have recognized the pattern and invested to beat others. However, one could argue that the pattern was obvious by late 1990s.