Probable Scenario Analysis of SENSEX Price Structure for the 11th of June, 2026. The day is Thursday.
(1) Bullish Scenario:
Firstly, the price needs a sustainable breakout above the level of 74500. Then, a weak bullish scenario will emerge. The probable weak bullish targets above the level of 74500 are - 74750 and 75000. The level of 75000 would act as strong resistance. Next, if the price sustains above the level of 75000, then strong bullishness will emerge. The probable strong bullish targets above the level of 75000 are - 75250 and 75500.
(2) Bearish Scenario:
The level of 73750 is a weak support. If price breaks down below the level of 73750, then weak bearish targets till 73500 can be achieved. The level of 73500 will act as strong support. Next, if price again breaks down below the level of 73500, then a strong bearish scenario would emerge. The probable strong bearish targets below the level of 73500 are - 73250 and 73000.
(3) No Trading Zone (NTZ): (74500 - 73750).
(4) Range of Consolidation (ROC): (74500 - 73500).
Here, the median of the ROC is 74000. Price staying above or below the median would decide range-bound bullishness or bearishness, respectively. A strong bullish move would be observed if the price breaks out above the level 74500. On the contrary, a strong bearish move would be observed if the price breaks down below the level 73500.
(5) Event:
There is no high-impact event this week. There are also no holidays this week. However, Thursday is the SENSEX weekly expiry. So, we can expect a price anomaly.
(6) Establish intraday bias with respect to the opening price. If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
Top-Down Analysis:
(1) Monthly TF:
Lower-lows and lower-highs structure is intact. Level 75000 is strong resistance. We still cannot trust up moves unless the price sustains above level 75000. Level 73500 seems to be strong support. The view is bearish as there is no evidence of bullishness yet.
(2) Weekly TF:
Lower-lows and lower-highs structure is intact. This week's candle is green and inside the previous week. Maybe it is a bearish trend pause. Level 75000 is strong resistance. Doubt all the up move. All the bullish moves should be captured in the intraday only. Taking an overnight bullish position will be risky as the market structure is weak. However, it is also not conducive to shorting the market. Level 73500 is strong support. The view is bearish as there is no evidence of bullishness yet.
(3) Daily TF:
Lower-lows and lower-highs structure is intact. Strong resistance is at 74500. Only a break out above level 74500 would offer some bullish hope. The daily candle formed on 08th June is a "gravestone doji." It is a sign of bearish trend exhaustion. Next, the candle of 09th June is a red hammer that closed above the previous day. It is a sign of arresting the bearish trend. Think of bearish trades only if the price breaks down below the level of 73500. However, if it stays above the level 74000, stay bullish. But also doubt the up move, as there is no evidence of bullishness. Bullish hope will emerge once the price decisively trades above the level 74500. The view is bearish to indecisive.
(4) 30-minute TF:
Lower-lows and lower-highs structure is intact. Strong support level is 73500. Don't short unless price sustains below the level 73500. No trading zone (NTZ) is (74000 - 73500). There will be a mild (or weak) bullish move in the zone of (74000 - 74500). A strong bullish move is only possible once the price offers a break out above the level 74500. The view is bearish to indecision.
NOTE:
(i) All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
(ii) Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
(iii) Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
(iv) Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
(v) Be Strategic. Be Courageous. Be Patient. Be Wise.
(vi) Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
(vii) Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
(1) Bullish Scenario:
Firstly, the price needs a sustainable breakout above the level of 74500. Then, a weak bullish scenario will emerge. The probable weak bullish targets above the level of 74500 are - 74750 and 75000. The level of 75000 would act as strong resistance. Next, if the price sustains above the level of 75000, then strong bullishness will emerge. The probable strong bullish targets above the level of 75000 are - 75250 and 75500.
(2) Bearish Scenario:
The level of 73750 is a weak support. If price breaks down below the level of 73750, then weak bearish targets till 73500 can be achieved. The level of 73500 will act as strong support. Next, if price again breaks down below the level of 73500, then a strong bearish scenario would emerge. The probable strong bearish targets below the level of 73500 are - 73250 and 73000.
(3) No Trading Zone (NTZ): (74500 - 73750).
(4) Range of Consolidation (ROC): (74500 - 73500).
Here, the median of the ROC is 74000. Price staying above or below the median would decide range-bound bullishness or bearishness, respectively. A strong bullish move would be observed if the price breaks out above the level 74500. On the contrary, a strong bearish move would be observed if the price breaks down below the level 73500.
(5) Event:
There is no high-impact event this week. There are also no holidays this week. However, Thursday is the SENSEX weekly expiry. So, we can expect a price anomaly.
(6) Establish intraday bias with respect to the opening price. If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
Top-Down Analysis:
(1) Monthly TF:
Lower-lows and lower-highs structure is intact. Level 75000 is strong resistance. We still cannot trust up moves unless the price sustains above level 75000. Level 73500 seems to be strong support. The view is bearish as there is no evidence of bullishness yet.
(2) Weekly TF:
Lower-lows and lower-highs structure is intact. This week's candle is green and inside the previous week. Maybe it is a bearish trend pause. Level 75000 is strong resistance. Doubt all the up move. All the bullish moves should be captured in the intraday only. Taking an overnight bullish position will be risky as the market structure is weak. However, it is also not conducive to shorting the market. Level 73500 is strong support. The view is bearish as there is no evidence of bullishness yet.
(3) Daily TF:
Lower-lows and lower-highs structure is intact. Strong resistance is at 74500. Only a break out above level 74500 would offer some bullish hope. The daily candle formed on 08th June is a "gravestone doji." It is a sign of bearish trend exhaustion. Next, the candle of 09th June is a red hammer that closed above the previous day. It is a sign of arresting the bearish trend. Think of bearish trades only if the price breaks down below the level of 73500. However, if it stays above the level 74000, stay bullish. But also doubt the up move, as there is no evidence of bullishness. Bullish hope will emerge once the price decisively trades above the level 74500. The view is bearish to indecisive.
(4) 30-minute TF:
Lower-lows and lower-highs structure is intact. Strong support level is 73500. Don't short unless price sustains below the level 73500. No trading zone (NTZ) is (74000 - 73500). There will be a mild (or weak) bullish move in the zone of (74000 - 74500). A strong bullish move is only possible once the price offers a break out above the level 74500. The view is bearish to indecision.
NOTE:
(i) All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
(ii) Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
(iii) Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
(iv) Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
(v) Be Strategic. Be Courageous. Be Patient. Be Wise.
(vi) Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
(vii) Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.