Banknifty Market Structure Analysis & Trade Plan: 28th August

🔎 Market Structure Analysis (BankNifty)

📍 Higher Timeframe (4H Chart)

Clear downtrend: Price broke structure (BOS) at 55,200 and failed to hold above 55,600–55,800 (OB + VI zone).

Trading well below 20 EMA, showing strong bearish momentum.

Currently sitting at 54,400–54,500 demand zone (last support before deeper fall).

Bias: Bearish as long as price stays under 55,000–55,200.

📍 Mid Timeframe (1H Chart)

Price respecting a down-channel with lower highs and lower lows.

FVG left around 54,900–55,200, which could act as a supply zone if retested.

Immediate support: 54,300–54,400.

Break below 54,300 opens room towards 53,800–54,000.

Bias: Sell rallies into 54,800–55,000; monitor 54,300 breakdown for continuation.

📍 Intraday View (15m Chart)

Order blocks and BOS visible around 54,750–54,800.

Multiple rejection wicks confirming supply around 54,700–54,900.

Currently consolidating at 54,400 with liquidity resting below.

Bias: Intraday short opportunities below 54,400; scalp long only if strong rejection from 54,300–54,400.

🎯 Trading Plan for 28th August

🔻 Short Plan (Primary Bias)

Entry Zone: 54,700–54,900 (Supply + FVG).

Stop Loss: Above 55,050.

Targets:

T1 = 54,400 (already tested, but scalpable)

T2 = 54,000

T3 = 53,800

🔺 Long Plan (Countertrend)

Entry Zone: 54,300–54,400 (Demand Zone).

Stop Loss: Below 54,150.

Targets:

T1 = 54,700

T2 = 54,900–55,000 (supply/FVG fill)

✅ Key Notes

Main structure = bearish; shorts are higher probability.

Longs = only if 54,300–54,400 holds with strong rejection on 15m + confirmation candle.

Break of 54,300 = free fall towards 53,800–54,000.

Volatility expected due to overlapping FVG + OB zones, so execution must be crisp.