4-Hour Chart (Macro Trend)
Structure: The Sensex has re-established its Strong Bullish Momentum. The large bullish candle on Monday has effectively cancelled the aggressive selling seen on Friday, confirming a successful retest and bounce from the lower boundary of the steep ascending channel. The price has reclaimed the critical 84,200 - 84,400 zone.
Key Levels:
Major Supply (Resistance): 85,300 - 85,600. This area (the recent high and the upper channel boundary) is the immediate hurdle. A decisive breakout here is needed to challenge the All-Time High.
Major Demand (Support): 84,200 - 84,400. This area, which includes the lower channel trendline and the FVG (Fair Value Gap), is the must-hold level for the short-term uptrend.
Outlook: The bias is Strongly Bullish. The market is poised to challenge the 85,300 resistance.
1-Hour Chart (Intermediate View)
Structure: The 1H chart shows a clear V-shaped recovery and a Break of Structure (MSS) back to the upside. The price is trading strongly within a newly established ascending channel.
Key Levels:
Immediate Resistance: 85,000 (Psychological mark and upper channel boundary).
Immediate Support: 84,500 (Recent consolidation support/lower channel boundary).
15-Minute Chart (Intraday View)
Structure: The 15M chart confirms the strong reversal. The price is currently trading at the upper end of the daily range, consolidating in a tight pattern right below 85,000. This is a bullish continuation setup.
Key Levels:
Intraday Supply: 85,000.
Intraday Demand: 84,600 (Recent consolidation zone).
Outlook: Aggressively Bullish.
📈 Structure Analysis & Trade Plan: 28th October
Market Outlook: Sensex has shown strong resilience, negating Friday's bearishness. The primary strategy will be to buy on continuation to capitalize on the resumed bullish momentum.
Bullish Scenario (Primary Plan: Continuation)
Justification: The V-shaped recovery and the successful defense of the macro support favor continuation towards the ATH.
Entry: Long entry on a decisive break and 15-minute candle close above 85,000. Alternatively, look for a dip entry near 84,600 - 84,800 (the immediate support zone).
Stop Loss (SL): Place a stop loss below 84,400 (below the lower channel trendline).
Targets:
T1: 85,300 (Previous swing high).
T2: 85,600 (Upper channel boundary/Extension).
Bearish Scenario (Counter-Trend/Reversal)
Justification: High-risk. Only valid if the rally fails aggressively at the 85,000 mark.
Trigger: A sustained break and 1-hour close back below 84,400.
Entry: Short entry below 84,400.
Stop Loss (SL): Above 84,800.
Targets:
T1: 84,200 (FVG support).
T2: 83,900 (Major FVG support).
Key Levels for Observation:
Immediate Decision Point: 84,500 - 85,000 zone.
Bullish Confirmation: Sustained trade above 85,000.
Bearish Warning: A move below 84,400.
Line in the Sand: 84,200. Below this level, the short-term bullish bias is nullified.
Structure: The Sensex has re-established its Strong Bullish Momentum. The large bullish candle on Monday has effectively cancelled the aggressive selling seen on Friday, confirming a successful retest and bounce from the lower boundary of the steep ascending channel. The price has reclaimed the critical 84,200 - 84,400 zone.
Key Levels:
Major Supply (Resistance): 85,300 - 85,600. This area (the recent high and the upper channel boundary) is the immediate hurdle. A decisive breakout here is needed to challenge the All-Time High.
Major Demand (Support): 84,200 - 84,400. This area, which includes the lower channel trendline and the FVG (Fair Value Gap), is the must-hold level for the short-term uptrend.
Outlook: The bias is Strongly Bullish. The market is poised to challenge the 85,300 resistance.
1-Hour Chart (Intermediate View)
Structure: The 1H chart shows a clear V-shaped recovery and a Break of Structure (MSS) back to the upside. The price is trading strongly within a newly established ascending channel.
Key Levels:
Immediate Resistance: 85,000 (Psychological mark and upper channel boundary).
Immediate Support: 84,500 (Recent consolidation support/lower channel boundary).
15-Minute Chart (Intraday View)
Structure: The 15M chart confirms the strong reversal. The price is currently trading at the upper end of the daily range, consolidating in a tight pattern right below 85,000. This is a bullish continuation setup.
Key Levels:
Intraday Supply: 85,000.
Intraday Demand: 84,600 (Recent consolidation zone).
Outlook: Aggressively Bullish.
📈 Structure Analysis & Trade Plan: 28th October
Market Outlook: Sensex has shown strong resilience, negating Friday's bearishness. The primary strategy will be to buy on continuation to capitalize on the resumed bullish momentum.
Bullish Scenario (Primary Plan: Continuation)
Justification: The V-shaped recovery and the successful defense of the macro support favor continuation towards the ATH.
Entry: Long entry on a decisive break and 15-minute candle close above 85,000. Alternatively, look for a dip entry near 84,600 - 84,800 (the immediate support zone).
Stop Loss (SL): Place a stop loss below 84,400 (below the lower channel trendline).
Targets:
T1: 85,300 (Previous swing high).
T2: 85,600 (Upper channel boundary/Extension).
Bearish Scenario (Counter-Trend/Reversal)
Justification: High-risk. Only valid if the rally fails aggressively at the 85,000 mark.
Trigger: A sustained break and 1-hour close back below 84,400.
Entry: Short entry below 84,400.
Stop Loss (SL): Above 84,800.
Targets:
T1: 84,200 (FVG support).
T2: 83,900 (Major FVG support).
Key Levels for Observation:
Immediate Decision Point: 84,500 - 85,000 zone.
Bullish Confirmation: Sustained trade above 85,000.
Bearish Warning: A move below 84,400.
Line in the Sand: 84,200. Below this level, the short-term bullish bias is nullified.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.