Nifty Bank Index
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Banknifty Structure Analysis & Trade Plabn: 02nd September

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🔎 Multi-Timeframe Analysis

4H Chart

Trend: Strong bearish structure intact, price consistently making lower lows.

Current Action: Price has bounced from 53,400 demand zone and is now testing supply around 54,000–54,200 (FVG + supply block).

Bias: Still bearish overall, but short-term relief rally is underway until this supply zone holds.

1H Chart

Trend: Recovery move inside a descending channel. Recent candles show strength but hitting 54,000 resistance zone.

Supply: 54,000–54,200 is a critical supply block. Above this, next resistance at 54,400–54,500.

Demand: Strong support sits near 53,400–53,500.

15M Chart

Structure: Clear break above intraday structure with higher highs and higher lows.

Immediate Resistance: Price is consolidating just below 54,000–54,100 supply.

Short-term Bias: Momentum bullish, but into heavy resistance.

🎯 Trade Plan for 2nd September

🔹 Scenario 1: Rejection at 54,000–54,200

If price rejects this supply zone with bearish candle confirmation:

Entry: Short near 54,000–54,100

Target 1: 53,700

Target 2: 53,400 (major demand zone)

Stop-Loss: Above 54,250
✅ Favorable Risk-Reward for trend continuation.

🔹 Scenario 2: Breakout above 54,200

If price sustains above 54,200 with volume:

Entry: Long above 54,250

Target 1: 54,500

Target 2: 54,800

Stop-Loss: Below 54,000
⚠️ More counter-trend, so reduce size.

🔹 Scalping Intraday (15M Setup)

Look for short entries at 54,000–54,100 zone rejection.

Quick longs possible only if 53,700–53,750 holds intraday as support.

📌 Summary:

Bigger picture = bearish bias.

Best probability = Sell on rise around 54,000–54,200.

Bulls only valid above 54,200 for a short-covering rally.

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