Structure:
Sensex continues to respect the medium-term bullish channel. The recent pullback into the support band around 84,300 – 83,700 has likely completed wave 4, and the index is now attempting a fresh upside rotation.
Scenario 1 – Bullish Continuation (Most Probable)
Price reclaimed the breakout zone near 85,291 – 85,655.
Sustaining above this band confirms upward strength.
Immediate target zone → 86,934 – 88,058 (Wave 3 internal zone).
Strong extension possible into the 90,355 cluster, aligning with Wave (3) resistance.
Trigger: Clean breakout above 85,655 - momentum opens toward the blue target box.
Scenario 2 – Deeper Wave (2) Retest (Moderate Probability)
If Sensex re-rejects 85,291 / 85,655, it may revisit the orange demand zone.
Key support cluster → 83,721 – 82,191.
This zone is still bullish structurally as long as 81,100 is protected.
A dip into this zone prepares a stronger Wave 3 rally later.
Scenario 3 – Bearish Breakdown (Low Probability)
Breakdown below 82,191 - opens retest of major weekly support at 81,100 → 80,482.
Only a close below 79,734 invalidates the bullish Elliott Wave structure.
RSI Observation
RSI has turned upward from mid-range, matching price reaction from support.
No bearish divergence currently.
Supports probability of a continued upward leg.
Major Levels
Upside:
86,160 - 86,934 - 88,058 - 89,555 - 90,355 - 92,450 - 94,555
Downside:
84,677 - 83,721 - 82,191 - 81,100 - 80,482 - 79,734 (critical)
Summary
Sensex is at a decision point. Holding above 85,291–85,655 keeps bulls fully in control, targeting 86.9k - 88k - 90.3k.
Rejection here only delays the upside; deeper support test remains structurally bullish as long as 79,734 holds.
Disclaimer
This is purely for educational and chart-study purposes. Not financial advice. Do your own research before trading.
Sensex continues to respect the medium-term bullish channel. The recent pullback into the support band around 84,300 – 83,700 has likely completed wave 4, and the index is now attempting a fresh upside rotation.
Scenario 1 – Bullish Continuation (Most Probable)
Price reclaimed the breakout zone near 85,291 – 85,655.
Sustaining above this band confirms upward strength.
Immediate target zone → 86,934 – 88,058 (Wave 3 internal zone).
Strong extension possible into the 90,355 cluster, aligning with Wave (3) resistance.
Trigger: Clean breakout above 85,655 - momentum opens toward the blue target box.
Scenario 2 – Deeper Wave (2) Retest (Moderate Probability)
If Sensex re-rejects 85,291 / 85,655, it may revisit the orange demand zone.
Key support cluster → 83,721 – 82,191.
This zone is still bullish structurally as long as 81,100 is protected.
A dip into this zone prepares a stronger Wave 3 rally later.
Scenario 3 – Bearish Breakdown (Low Probability)
Breakdown below 82,191 - opens retest of major weekly support at 81,100 → 80,482.
Only a close below 79,734 invalidates the bullish Elliott Wave structure.
RSI Observation
RSI has turned upward from mid-range, matching price reaction from support.
No bearish divergence currently.
Supports probability of a continued upward leg.
Major Levels
Upside:
86,160 - 86,934 - 88,058 - 89,555 - 90,355 - 92,450 - 94,555
Downside:
84,677 - 83,721 - 82,191 - 81,100 - 80,482 - 79,734 (critical)
Summary
Sensex is at a decision point. Holding above 85,291–85,655 keeps bulls fully in control, targeting 86.9k - 88k - 90.3k.
Rejection here only delays the upside; deeper support test remains structurally bullish as long as 79,734 holds.
Disclaimer
This is purely for educational and chart-study purposes. Not financial advice. Do your own research before trading.
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.