Sensex structure analysis & Trade Plan: 29th August

4H Chart (Macro Bias)

Clear downtrend structure — strong rejection from the 82,200–81,800 FVG supply zone.

Price broke market structure (MSS) earlier and is respecting the descending channel.

Currently hovering around 80,200, very close to green demand zone ~79,800–79,600.

A Fair Value Gap (FVG) above 80,600–80,800 remains unfilled, which could act as a short-term magnet if a bounce occurs.

📌 Bias (4H): Bearish to neutral until 80,800 is reclaimed and closes hold above.

1H Chart (Intermediate Context)

Continuous lower highs & lower lows within the red bearish channel.

80,600 FVG tested partially but price failed to break above → reinforcing bearish control.

Current candles consolidating above the green demand ~79,800–79,600, showing some signs of possible intraday bounce.

📌 Bias (1H): Short-term accumulation; possible relief bounce towards 80,600, but still bearish unless that level breaks.

15M Chart (Execution Level)

Clear BOS (Break of Structure) to downside with small pullbacks.

Last OB (Order Block) around 80,400–80,500 rejected again.

Price is sitting at the edge of demand (~80,000 psychological & green zone).

Weak attempts to break lower so far → intraday liquidity building at both sides.

📌 Bias (15M): Waiting game — liquidity sweep likely before next strong move.

📋 Trade Plan for Sensex

Scenario A – Relief Bounce (Countertrend Play)
Trigger: Bullish rejection wick / BOS on 15M from 79,900–80,000 demand zone.

Entry: Long near 80,000–80,100.

Targets:

TP1 = 80,400 (previous OB)

TP2 = 80,600–80,800 (FVG fill)

Stoploss: Below 79,800 (green zone invalidation).

R:R: ~1:2.

Scenario B – Continuation Short (Trend Play)

Trigger: Breakdown below 79,800 with 15M candle close.

Entry: Short on retest of 79,800–79,900.

Targets:

TP1 = 79,400

TP2 = 79,000

TP3 = 78,600 (channel low)

Stoploss: Above 80,200 (recent minor swing high).

R:R: ~1:3+.

Scenario C – Trend Reversal (Bullish Bias Flip)

Trigger: 1H candle closes above 80,800 and sustains.

Entry: Long above 80,800.

Targets:

TP1 = 81,200 (supply block)

TP2 = 81,800–82,000 (FVG)

Stoploss: Below 80,400.

✅ Summary Bias:

Main Plan: Short bias intact; sell rallies unless 80,800 breaks.

Aggressive Countertrend Play: Small long scalps possible from 79,800 demand, but strictly intraday.