S&P BSE Sensex Index
Long

Sensex Structure Analysis and Trade Plan: 16th September

57
4-Hour Chart (Swing Context)

Trend: Ascending channel formation after a prior downtrend.

Key Zone: Approaching the 81,900-82,100 supply zone.

Previous Break: Impulsive leg broke above 81,200, now acting as potential demand.

Bias: Bullish momentum, but within a significant resistance zone.

1-Hour Chart (Intraday Context)

Structure: Clear higher highs & higher lows (bullish structure).

Support: 81,200 level (former resistance turned demand) showing strong bounces.

Current Action: Consolidating below the 81,900-82,100 supply.

BOS: Confirms buyer dominance, but upside liquidity appears to be thinning.

15-Minute Chart (Execution View)

Action: Sideways consolidation below 81,800.

OB: Order block around 81,100-81,200 acts as support buffer.

FVG: Minor FVGs in 81,300-81,350 zone may offer intraday support.

Channel: Price respecting the ascending channel boundaries.

Trade Plan (16th September)

Bullish Scenario

Entry: Buy on retracement near 81,100-81,200 demand zone (OB + structure support).

Targets:
TP1: 81,500 (intraday liquidity)
TP2: 81,900-82,000 (supply zone top & channel resistance)
Stop Loss: Below 81,000 (channel bottom & invalidation).

Bearish Scenario

Entry: Short on rejection of 81,900-82,100 zone with strong bearish signal (e.g., engulfing).
Targets:
TP1: 81,300 (potential FVG fill)
TP2: 81,100-81,200 (major demand zone/OB)
Stop Loss: Above 82,100.

Bias: Neutral-to-Bullish. Expecting a potential pullback to 81,100-81,200 before a move towards the 81,900-82,100 resistance.

Caution: If 81,100-81,200 fails, expect downside acceleration towards 80,800-80,600.

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