Top-Down SENSEX Price Structure Analysis for 23rd of March 2026. The day is Monday.
(i) Monthly TF: The candle is a red marubozu. The view is bearish.
(ii) Weekly TF: The candle is a gravestone doji after a red marubozu candle. Price is below 150 EMA. Level 74000 is the only support. The view is bearish.
(iii) Daily TF: Lower lows and lower highs structure is intact. Price is below the falling 9 EMA and 20 EMA. Major resistance 75500. Major support 74000. The view is bearish.
(iv) 30-minute TF: Price is in a sideways range (75300 - 74000). The main trend of bearishness is intact. The view is bearish to indecision.
(v) No Trading Zone (NTZ): (75500 - 74000)
(vi) Event: No high-impact event. No expiry on Monday. However, war uncertainty is always there.
(vii) Establish intraday bias with respect to the opening price.
(v) Bullish Scenario Set-Up: Price gives a breakout above level 75500 along with forming a higher highs and lower lows structure. The bullish targets would be 76000 and 76500.
(vi) Bearish Scenario Set-Up: Price gives a breakdown below the level 74000. First minor bearish target is 73750. Next bearish targets are 73500 and 73000.
(vii) All the analyses would fail in the case of a major gap up or gap down or price structure anomaly. Thus, always 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!
(i) Monthly TF: The candle is a red marubozu. The view is bearish.
(ii) Weekly TF: The candle is a gravestone doji after a red marubozu candle. Price is below 150 EMA. Level 74000 is the only support. The view is bearish.
(iii) Daily TF: Lower lows and lower highs structure is intact. Price is below the falling 9 EMA and 20 EMA. Major resistance 75500. Major support 74000. The view is bearish.
(iv) 30-minute TF: Price is in a sideways range (75300 - 74000). The main trend of bearishness is intact. The view is bearish to indecision.
(v) No Trading Zone (NTZ): (75500 - 74000)
(vi) Event: No high-impact event. No expiry on Monday. However, war uncertainty is always there.
(vii) Establish intraday bias with respect to the opening price.
(v) Bullish Scenario Set-Up: Price gives a breakout above level 75500 along with forming a higher highs and lower lows structure. The bullish targets would be 76000 and 76500.
(vi) Bearish Scenario Set-Up: Price gives a breakdown below the level 74000. First minor bearish target is 73750. Next bearish targets are 73500 and 73000.
(vii) All the analyses would fail in the case of a major gap up or gap down or price structure anomaly. Thus, always 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.