BankNifty Structure Analysis and Trade Plan: 16th September

4-Hour Chart (Swing Context)

Trend: Ascending channel formation after a prior downtrend.

Key Zone: Approaching the 54,900-55,100 supply zone.

Previous Break: Impulsive leg broke above 54,600, 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: 54,600 level (former resistance turned demand) showing strong bounces.

Current Action: Consolidating below the 54,900-55,100 supply.

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

15-Minute Chart (Execution View)

Action: Sideways consolidation below 54,950.

OB: Order block around 54,550-54,600 acts as support buffer.

FVG: Minor FVGs in 54,700-54,750 zone may offer intraday support.

Channel: Price respecting the ascending channel boundaries.

Trade Plan (16th September)

Bullish Scenario

Entry: Buy on retracement near 54,550-54,600 demand zone (OB + structure support).
Targets:
TP1: 54,850 (intraday liquidity)
TP2: 54,900-55,000 (supply zone top & channel resistance)
Stop Loss: Below 54,450 (channel bottom & invalidation).

Bearish Scenario

Entry: Short on rejection of 54,900-55,100 zone with strong bearish signal (e.g., engulfing).
Targets:
TP1: 54,700 (potential FVG fill)
TP2: 54,550-54,600 (major demand zone/OB)
Stop Loss: Above 55,100.

Bias: Neutral-to-Bullish. Expecting a potential pullback to 54,550-54,600 before a move towards the 54,900-55,100 resistance.

Caution: If 54,550-54,600 fails, expect downside acceleration towards 54,300-54,100.