Top-Down SENSEX Price Structure Analysis for 06th of April 2026. The day is Monday.
(1) Monthly TF: The candle is inside the previous month. The structure is red hammer. Maybe it is a sign of trend reversal. However, there is no such evidence yet. Major support is 72000. Major resistance is 74000. Price did not touch the 50 EMA. Price is still trading below 9 EMA (downward sloping) and 20 EMA (flat). The view is indecision to bearish.
(2) Weekly TF: Lower lows and lower highs structure is intact. The candle is a bullish spinning top. For consecutive 3 weeks, candles are forming a doji. It means that directional trading has been very difficult as both bulls and bears are strategically trapped. However, bears have still been the winners. Also, in the past 4 weeks, the price has shown 3000 points fall. Price-wise correction in this time frame is done, as the price did touch the 200 EMA (equivalent to level 72500). However, price is still below 150 EMA (equivalent to level 75500). Sustainability of price above the level 74000 for at least one week might offer hope for trend reversal. Presently, there is no sign of such. Level 74000 would act as a major resistance. Level 72000 would act as a major support. We still have to doubt every up move. The view is indecision to bearish.
(3) Daily TF: Lower lows and lower highs structure is intact. Price is below the downward sloping 9, 20, and 50 EMA. Level 74000 will be a major resistance. Levels 72000 and 71500 would offer good support. The view is indecision to bearish.
(4) 30-minute TF: Lower lows and lower highs structure is intact. Price is trading above the level 73000. It is trading above the upward-sloping 9 and 20 EMA. Additionally, price is trading above the 50 EMA (flat). Level 73000 would offer good support. Level 74000 would be a major resistance. However, the price is in a running correction. It has not touched the 200 EMA (downward sloping) for a long time. There is a high probability that the price will start to trade above the level 74000 and touch the 200 EMA. For now, every up move should be doubted unless the price gives a breakout above the level 74000. The view is indecision to bearish.
(5) No Trading Zone (NTZ): (73500 - 72500).
(6) Range of Consolidation (ROC): (74000 - 72000). Trading will be very difficult in this zone. A breakout above 74000 would confirm bullish sentiments. A breakdown below 72000 would confirm bearish sentiments.
(7) Establish intraday bias with respect to the opening price.
(8) Events: No high-impact event. No expiry.
(9) BULLISH SET-UP: Presently, all the bullish trades will be led by the underconfident bulls. If the price breaks out at level 73500, then the corresponding achievable levels are - 74000 and 74500. Price will receive good resistance at the level 74500. Confident bulls would emerge when the price gives a breakout above the level 74500. Then the corresponding bullish levels would be - 75000 and 75500. An unfilled gap is there at 75500.
(10) BEARISH SET-UP: Level 72500 is a major support level. No shorting until price breaks down level 72500. If level 72500 is broken, then the corresponding bearish levels would be - 72000 and 71500. Price would receive good support at level 71500. In case the price further breaks down to level 71500, then the next bearish levels would be 71000 and 70500.
(11) All the analysis would fail in the case of a major gap up, gap down, or price structure anomaly. Therefore, practice PRAGMATISM in the live market.
NOTE:
(i) Trade only if there is a setup. Remember, not trading is an extension of the trading activity. Always practice RISK MANAGEMENT. Always PROTECT your CAPITAL. Be RESPONSIBLE.
(ii) Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Therefore, trade what you see, not what you believe.
(iii) Be Strategic. Be Courageous. Be Patient. Be Wise.
(iv) Every day is a new day. Therefore, do not carry the baggage of past successes or failures. Always trade from a new perspective. Believe in Possibilities.
Happy Trading!
(1) Monthly TF: The candle is inside the previous month. The structure is red hammer. Maybe it is a sign of trend reversal. However, there is no such evidence yet. Major support is 72000. Major resistance is 74000. Price did not touch the 50 EMA. Price is still trading below 9 EMA (downward sloping) and 20 EMA (flat). The view is indecision to bearish.
(2) Weekly TF: Lower lows and lower highs structure is intact. The candle is a bullish spinning top. For consecutive 3 weeks, candles are forming a doji. It means that directional trading has been very difficult as both bulls and bears are strategically trapped. However, bears have still been the winners. Also, in the past 4 weeks, the price has shown 3000 points fall. Price-wise correction in this time frame is done, as the price did touch the 200 EMA (equivalent to level 72500). However, price is still below 150 EMA (equivalent to level 75500). Sustainability of price above the level 74000 for at least one week might offer hope for trend reversal. Presently, there is no sign of such. Level 74000 would act as a major resistance. Level 72000 would act as a major support. We still have to doubt every up move. The view is indecision to bearish.
(3) Daily TF: Lower lows and lower highs structure is intact. Price is below the downward sloping 9, 20, and 50 EMA. Level 74000 will be a major resistance. Levels 72000 and 71500 would offer good support. The view is indecision to bearish.
(4) 30-minute TF: Lower lows and lower highs structure is intact. Price is trading above the level 73000. It is trading above the upward-sloping 9 and 20 EMA. Additionally, price is trading above the 50 EMA (flat). Level 73000 would offer good support. Level 74000 would be a major resistance. However, the price is in a running correction. It has not touched the 200 EMA (downward sloping) for a long time. There is a high probability that the price will start to trade above the level 74000 and touch the 200 EMA. For now, every up move should be doubted unless the price gives a breakout above the level 74000. The view is indecision to bearish.
(5) No Trading Zone (NTZ): (73500 - 72500).
(6) Range of Consolidation (ROC): (74000 - 72000). Trading will be very difficult in this zone. A breakout above 74000 would confirm bullish sentiments. A breakdown below 72000 would confirm bearish sentiments.
(7) Establish intraday bias with respect to the opening price.
(8) Events: No high-impact event. No expiry.
(9) BULLISH SET-UP: Presently, all the bullish trades will be led by the underconfident bulls. If the price breaks out at level 73500, then the corresponding achievable levels are - 74000 and 74500. Price will receive good resistance at the level 74500. Confident bulls would emerge when the price gives a breakout above the level 74500. Then the corresponding bullish levels would be - 75000 and 75500. An unfilled gap is there at 75500.
(10) BEARISH SET-UP: Level 72500 is a major support level. No shorting until price breaks down level 72500. If level 72500 is broken, then the corresponding bearish levels would be - 72000 and 71500. Price would receive good support at level 71500. In case the price further breaks down to level 71500, then the next bearish levels would be 71000 and 70500.
(11) All the analysis would fail in the case of a major gap up, gap down, or price structure anomaly. Therefore, practice PRAGMATISM in the live market.
NOTE:
(i) Trade only if there is a setup. Remember, not trading is an extension of the trading activity. Always practice RISK MANAGEMENT. Always PROTECT your CAPITAL. Be RESPONSIBLE.
(ii) Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Therefore, trade what you see, not what you believe.
(iii) Be Strategic. Be Courageous. Be Patient. Be Wise.
(iv) Every day is a new day. Therefore, do not carry the baggage of past successes or failures. Always trade from a new perspective. 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.