Sensex Market Structure & Trade Plan: 8th August

📊 Sensex Market Structure Overview

🕓 4H Timeframe:

Structure is bearish with successive lower highs and lower lows.

Price took strong support from the 79,800–80,000 demand zone.

No confirmed BOS yet – current rally is corrective.

Multiple supply zones visible above:

81,150–81,300 (recent breakdown zone)

81,750–81,950 (strong previous resistance)

🕐 1H Timeframe:

A sharp bullish reversal from the demand zone, but still within the bearish structure.

Price approaching immediate supply zone at 80,800–81,000.

This zone could act as resistance unless broken with strong volume.

⏱️ 15-Min Timeframe:

Short-term reversal structure formed with bullish BOS.

Currently forming higher highs and higher lows.

If price sustains above 80,800, we may test 81,150 and higher.

Any rejection below 80,800 could trigger a retest of 80,200–80,000.

🧭 Trade Plan – 8th August (Sensex)

🎯 Bias: Cautiously Bullish

As long as 80,000 holds, short-term structure favors upside. But major resistance ahead.

🔼 Long Setup (Only on Retest)

Entry: If price retests 80,200–80,300 with bullish confirmation (bullish wick or candle).

Stop Loss: Below 80,000

Target 1: 80,800

Target 2: 81,150

🔻 Short Setup (Aggressive)

Entry: Near 80,800–81,000 (if strong bearish candle or rejection wick seen)

Stop Loss: Above 81,100

Target 1: 80,400

Target 2: 80,100

🚫 No-Trade Zones (Sensex)
80,400–80,700: In-between zone; risky for fresh trades unless BOS/retest confirms.

Avoid trading in this range unless one side breaks decisively.