Sensex Market Structure & Trade Plan: 20th August

🔎 Current Market Context

Price is currently trading around 81,700 after a steady recovery from 80,000 support.

On the 4H chart, Sensex is testing a supply/FVG zone (81,600–81,800).

Multiple rejections in the 1H / 15M chart show sellers are active at this resistance.

Structure is still bullish overall with higher lows, but upside momentum is slowing at resistance.

📍 Key Levels

Immediate Resistance (Supply/FVG) → 81,600 – 81,800

Next Major Resistance → 82,600 – 82,800

Immediate Support Zone → 81,200 – 81,300

Major Support (Demand Zone) → 79,800 – 80,000

🎯 Intraday Trading Plan

Bullish Scenario (Breakout Play)

If price sustains above 81,800, expect continuation toward 82,600–82,800.

Confirmation: Strong bullish candle closing above 81,800 with volume.

Intraday target: +300 to +500 points.

Bearish Scenario (Rejection Play)

If Sensex fails to cross 81,800 and shows rejection (wicks/engulfing), short entries can be taken.

Downside target: 81,200 → 80,800.

Deeper pullback possible toward 80,000 if weakness continues.

Range Scenario (Scalping Play)

Between 81,200 – 81,800, expect sideways chop.

Use mean reversion trades: buy near 81,200, sell near 81,800 with tight SL.

⚖️ Bias & Probability

Overall Bias: Bullish but near resistance, caution required.

High probability trade:

Short-term rejection around 81,800 (scalp shorts).

OR breakout longs only if we get strong momentum above 81,800.

✅ In summary:

Above 81,800 → Buy for 82,600–82,800.

Below 81,800 with rejection → Short toward 81,200–80,800.

Safe intraday plan: Trade the range until a breakout confirms direction.