Banknifty Structure Analysis & Trade Plan: 8th September

🔎 Market Structure Analysis

4H Chart

Trend: Price has been in a falling channel but is attempting recovery inside a rising wedge.

Resistance: 54,350–54,450 zone (supply area + previous rejection).

Support: 53,600–53,800 (demand block + swing low).

Bias: Neutral-to-bullish short term, but the rising wedge hints at possible rejection near supply.

1H Chart

Price Action: Price bounced back from ~53,800 demand and is now consolidating around 54,000–54,150.

Fair Value Gaps (FVG): Filled around 54,050–54,150; next liquidity zone is above 54,300.

Key Levels:

Support: 53,800

Resistance: 54,350

Structure: Lower highs capped at supply, but still defending short-term trendline.

15M Chart

Intraday Structure: Market printed a Break of Structure (BOS) upwards from demand, retested 54,000, and is hovering just above trendline.

Short-Term Zones:

Demand: 53,950–54,050

Supply: 54,300–54,400

Bias: If demand holds, can push toward resistance; failure at 54,000 flips bias bearish.

🎯 Trade Plan for Monday (8th Sep)

Bullish Scenario (Long)

Entry: On 15M bullish rejection from 53,950–54,050 demand zone.

Target 1: 54,300 (previous supply).

Target 2: 54,450 (extended resistance on 4H).

Stoploss: Below 53,850.

Bearish Scenario (Short)

Entry: On rejection wicks or bearish structure shift near 54,300–54,400 supply zone.

Target 1: 54,050 (mid-level support).

Target 2: 53,800 (major demand).

Stoploss: Above 54,500.

⚖️ Summary

Intraday Bias: Range-bound between 53,800–54,400.

Breakout Levels:

Above 54,450 → opens up 54,800–55,000.

Below 53,800 → slide toward 53,400.

👉 My view: For Monday, bias stays sideways-to-slightly bullish until 54,300–54,400. Best strategy is fade supply & demand (buy dips near 53,950–54,050, short near 54,350–54,400).