Probable Scenario Analysis of SENSEX Price Structure for the 09th of June, 2026. The day is Tuesday.
(1) Bullish Scenario:
There is no observable bullish structure in the chart. Doubt all the upmove. Think of bullish trades only if the price trades above the level of 74500.
(2) Bearish Scenario:
The price is in a bearish structure. If the price stays below the level of 73750, stay bearish. The probable bearish targets below the level of 73750 are - 73500, 73250, and 73000. The level of 73000 would act as strong support. Next, if the price breaks down below the level of 73000, then the probable bearish continuation targets would be - 72750 and 72500. The level of 72500 would act as strong support.
(3) No Trading Zone (NTZ): (74500 - 73750).
Here, the zone of (74500 - 74000) would act as strong resistance.
(4) Range of Consolidation (ROC): (74000 - 73000).
Here, the level 73500 is the median of the ROC. If price stays above the level 73500, then the price will be trading in the NTZ. On the contrary, if the price stays below the level 73500, then the price would continue its bearish trend.
(5) Event:
There is no high-impact event this week. There are also no holidays this week. Tuesday is NIFTY 50 weekly expiry. So, we can expect a price anomaly.
(6) Establish intraday bias with respect to the opening price. If 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:
Very, very weak market. The view is bearish continuation.
(2) Weekly TF:
Very, very weak market. Strong resistance is 74500. Major support 73000. Doubt every up move. The view is bearish continuation.
(3) Daily TF:
Very, very weak market. Strong resistance zone is (74500 - 74000). For any bullish hope, price must trade above this resistance zone. Major support 73000. Doubt every up move. The view is bearish continuation.
(4) 30-minute TF:
Lower-lows and lower-highs structure is intact. Very, very weak market. Strong resistance zone is (74500 - 74000). For any bullish hope, price must trade above this resistance zone. Major support 73000. Doubt every up move. The view is bearish continuation.
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:
There is no observable bullish structure in the chart. Doubt all the upmove. Think of bullish trades only if the price trades above the level of 74500.
(2) Bearish Scenario:
The price is in a bearish structure. If the price stays below the level of 73750, stay bearish. The probable bearish targets below the level of 73750 are - 73500, 73250, and 73000. The level of 73000 would act as strong support. Next, if the price breaks down below the level of 73000, then the probable bearish continuation targets would be - 72750 and 72500. The level of 72500 would act as strong support.
(3) No Trading Zone (NTZ): (74500 - 73750).
Here, the zone of (74500 - 74000) would act as strong resistance.
(4) Range of Consolidation (ROC): (74000 - 73000).
Here, the level 73500 is the median of the ROC. If price stays above the level 73500, then the price will be trading in the NTZ. On the contrary, if the price stays below the level 73500, then the price would continue its bearish trend.
(5) Event:
There is no high-impact event this week. There are also no holidays this week. Tuesday is NIFTY 50 weekly expiry. So, we can expect a price anomaly.
(6) Establish intraday bias with respect to the opening price. If 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:
Very, very weak market. The view is bearish continuation.
(2) Weekly TF:
Very, very weak market. Strong resistance is 74500. Major support 73000. Doubt every up move. The view is bearish continuation.
(3) Daily TF:
Very, very weak market. Strong resistance zone is (74500 - 74000). For any bullish hope, price must trade above this resistance zone. Major support 73000. Doubt every up move. The view is bearish continuation.
(4) 30-minute TF:
Lower-lows and lower-highs structure is intact. Very, very weak market. Strong resistance zone is (74500 - 74000). For any bullish hope, price must trade above this resistance zone. Major support 73000. Doubt every up move. The view is bearish continuation.
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!
Note
It is 09:30 AM(i) Opening Price: 74035.41
(ii) Price is Trading in the No Trading Zone (NTZ): (74500 - 73750).
(iii) There is a big gap up. The gap is not yet filled.
(iv) We have to wait for trend confirmation.
(v) This market is not for directional traders; instead, it is for non-directional traders.
(vi) Today is Nifty 50 Weekly expiry. We can expect a price anomaly as usual.
Wait and watch.
Note
It is 11:38 AM(i) Opening Price: 74035.41
(ii) The big gap up is filled. The price is trading below the opening price.
(iii) Level 73500 will decide the next move of the price.
(iv) If the price stays below the level 73500, then bearishness will continue. But if the price sustains above 73500, then we can expect bullishness.
(v) Intraday Bullish confirmation: If the price goes up and starts to trade above the level 73750, then the price might return to the level 74000 as well as its opening price.
Wait and watch.
Note
It is 12:30 PM(i) Opening Price: 74035.41
(ii) The big gap up is filled. However, the price is trading below the opening price.
(iii) The price is trying to build a strong support base at the level of 73500.
(iv) If the price stays below the level 73500, then bearishness will continue. But if the price sustains above 73500, then we can expect bullishness.
(v) Intraday Bullish confirmation: If the price goes up and starts to trade above the level 73750, then the price might return to the level 74000 as well as its opening price.
(vi) Contraction Zone: (74000 - 73500). A breakout or breakdown from this zone will offer a trend.
(vii) The last 1 hour of today's session will decide the next move. We have to wait till the expiry movement and theta digestion are completed.
(viii) Presently, the view is indecisive to bullish. Here, the level 73500 seems to be forming a strong support base.
Wait and watch.
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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.